Governance Bodies

Separation of "corporate management" and "corporate supervision" and allocation of these functions to two separate bodies—an Executive Board on the one hand and a Supervisory Board on the other—is a characteristic feature of the German corporate governance system and thus the basis of Evonik's governance structure.

The Supervisory Board meets regularly and maintains a continuous dialogue with the Executive Board through its chairman. Its task is to oversee and advise the Executive Board. The Executive Board is required to report regularly to the Supervisory Board on aspects including business policy, corporate planning and corporate strategy. One specific feature of the German system is that employees are represented on the Supervisory Board. Evonik’s Supervisory Board has 20 members, ten representing the shareholders and ten representing the workforce. Under the German Codetermination Act, the employees usually elect delegates who in turn choose the employee representatives on the Supervisory Board. They currently include three representatives of the labor union. As per its rules of procedure, all decisions taken by the Supervisory Board are based on a majority vote, except where other mandatory rules apply.

In keeping with the legal requirements, the recommendations of the German Corporate Governance Code and its own Rules of Procedure, Evonik’s Supervisory Board currently has six committees. Alongside the Conciliation Committee required by law, it has an Executive Committee, a Finance and Investment Committee, an Audit Committee and a Nomination Committee, Innovation- and F&E Commitee.

The third governance organization required under the German Stock Corporation Act is the shareholders' meeting, where the shareholders exercise their rights.

In so far as forecasts or expectations are expressed or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment.

Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained.