Cooperation between Management Board and Supervisory Board
The Management Board of the Semperit Group consists of four members. It has full responsibility to manage the company, taking account of the interests of shareholders and employees as well as the public interest. The strategic direction of the company is determined in close cooperation with the Supervisory Board and discussed in meetings held at regular intervals. The Management Board itself carries out essential communications tasks. The basis for corporate management is the legally binding regulations, the Articles of Association and the internal rules of procedure applying to the Supervisory Board. In addition, behavioural guidelines are also contained in the Austrian Corporate Governance Code.
The Supervisory Board determines the segment of responsibilities in the Management Board, as well as those transactions requiring its authorisation. Furthermore, the Supervisory Board supports the Management Board in managing the company, particularly in the decisions of primary importance. The Supervisory Board resolved to establish committees consisting of its own members to carry out specific functions: Executive Committee, Remuneration Committee, Audit Committee and Nominating Committee. The authority to make decisions and pass resolutions rests in the hands of
the entire Supervisory Board.
