In compliance with the German Stock Corporation Act (AktG), Wacker Chemie AG has a dual management system, comprising the Executive Board – in charge of running the company – and the Supervisory Board – which oversees the Executive Board. Wacker Chemie AG’s Executive Board consists of four members. Assisted by WACKER’s corporate departments, the Executive Board coordinates strategies, resources, and the Group’s infrastructure and organization. Wacker Chemie AG is the parent company, responsible for corporate strategy and overall management, resource allocation, funding, and communicating with WACKER’s major target groups, especially the capital market and shareholders.
A new CEO took charge in 2008. Former CEO Dr. Peter-Alexander Wacker left WACKER’s Executive Board on May 8, 2008. Following the Annual Shareholders’ Meeting that same day, the reconstituted Supervisory Board appointed him as the company’s new Supervisory Board chairman. His successor as CEO is Dr. Rudolf Staudigl, who has been a member of WACKER’s Executive Board since 1995. Likewise effective May 8, 2008, Dr. Wilhelm Sittenthaler joined WACKER’s Executive Board. Dr. Joachim Rauhut and Auguste Willems remain as the other two Executive Board members. The Executive Board’s new composition made it necessary to reallocate the responsibilities of individual board members.
Dr. Peter-Alexander Wacker is Wacker Chemie AG’s new Supervisory Board chairman. He succeeds Dr. Karl Heinz Weiss, who was a Supervisory Board member for 37 years. WACKER’s Supervisory Board comprises 16 members, of whom eight are employee representatives.
Legal Structure of the WACKER Group
In November 2005, WACKER became a stock corporation (AG) under German law, headquartered in Munich. Wacker Chemie AG holds a direct or indirect stake in 64 companies belonging to the WACKER Group. The consolidated financial statements cover 57 fully consolidated companies. A further seven companies accounted for using the equity method are included.