Management and Supervision
In compliance with the German Stock Corporation Act (AktG), Wacker Chemie AG has a two-tier management system, comprising the Executive Board and Supervisory Board. Wacker Chemie AG’s Executive Board consists of four members. Wacker Chemie AG is the parent company and thus determines the Group’s strategy, overall management, resource allocation, funding, and communications with key target groups (especially with the capital market and shareholders).
There were no changes to either the composition or responsibilities of the Executive Board members during the period under review. New workers’ representatives took office on Wacker Chemie AG’s Supervisory Board during the reporting period. Uwe Fritz resigned his office as of May 31, 2011. His successor, Harald Sikorski, assumed his responsibilities as of June 1, 2011. As of December 31, 2011, the middle management representative Dr. Konrad Bachhuber resigned his Supervisory Board position. Konrad Kammergruber was elected to replace him, effective January 1, 2012.
Declaration on Corporate Management
Submitted as per Section 289a of the German Commercial Code (HGB), the declaration on corporate management forms part of the corporate governance report. This declaration is part of the combined management report and is also available online. It contains the Executive and Supervisory Boards’ work procedures, the declaration of conformity pursuant to Section 161 of the German Stock Corporation Act (AktG), and information on key corporate management practices. www.wacker.com/corporate-governance