Vossloh AG’s Supervisory Board has six members. Chairman of the Supervisory Board is Ulrich M. Harnacke. Since, in the wake of the various transactions conducted in 2002, the number of German employees has fallen below the threshold of 2,000 employees, the Supervisory Board composition is no longer governed by the German codetermination legislation of 1976. Supervisory Board membership is now subject to the provisions of the German Stock Corporation Act (“AktG”) and thus also to those of the German Industrial Constitution Act 1952 according to which one-third of its members must be employee representatives and two-thirds stockholder representatives.
The Supervisory Board oversees and advises the Executive Board’s management and conduct of business. Certain material transactions and Executive Board actions (specified in the Executive Board Rules of Procedure) are subject to prior Supervisory Board approval. The Supervisory Board periodically discusses with the Executive Board the business trend, as well as the corporate plan and strategy and their implementation. Moreover, the Supervisory Board approves the annual budget and financial statements of Vossloh AG and the Group with due regard to the reports of the internal and the statutory auditors, apart from being responsible for the appointment and removal of Executive Board members.
Ulrich M. Harnacke2,4, Chairman, Mönchengladbach, Independent Accountant, Tax Advisor and Business Consultant
Prof. Dr. Anne Christine d’Arcy3,4, Vienna (Austria), Full Professor for Corporate Governance and Management Control
Dr. Bernhard Düttmann3,4, Meerbusch, MBA, Independent Business Consultant
Andreas Kretschmann1, Neuenrade, Certified Social Security Professional
Michael Ulrich1,2,3, Kiel, machinist
1) Employee representative
2) Member of the Personnel Committee
3) Member of the Audit Committee
4) Member of the Nomination Committee