List of memberships in Group bodies of Managing Board and Supervisory Board of SIXT SE
SUPERVISORY BOARD OF SIXT SE
The Supervisory Board of Sixt SE consists of four members (see Section 10 (1) of the Articles of Association). The main tasks of the Supervisory Board include the appointment of the members of the Management Board and the monitoring of the Management Board. As a general rule, the Supervisory Board adopts its resolutions in meetings. If instructed by the Supervisory Board Chairman, resolutions by the Supervisory Board may also be adopted outside of meetings (or by way of a combined resolution). Resolutions of the Supervisory Board require a simple majority of the votes cast, unless otherwise stipulated by mandatory law. Further details on the meetings and activities of the Supervisory Board in the individual financial years are provided in the report of the Supervisory Board in the respective Annual Report. The current rules of procedure of the Supervisory Board of Sixt SE are available on this website in the section “Corporate Governance”. The Management Board and the Supervisory Board cooperate closely for the benefit of the Sixt Group. The Management Board informs the Supervisory Board regularly, promptly and comprehensively on all matters that are relevant to the company and the Group regarding strategic planning, business development, the risk situation and risk management as well as about the results of internal audits. The Management Board agrees the strategic direction of the company with the Supervisory Board and discusses strategy implementation at regular intervals. Documents required for decision-making, in particular the annual financial statements of Sixt SE, the consolidated financial statements, the combined management report including the auditor’s reports, are forwarded to the members of the Supervisory Board sufficiently in advance of the respective meeting.
One of the main tasks of the Supervisory Board is the development of the remuneration system for the Management Board. The remuneration system is adopted by the Supervisory Board and submitted to the Annual General Meeting for approval in accordance with § 120a of the German Stock Corporation Act (AktG). It is available on this website under the heading “Corporate Governance”. The Supervisory Board reviews the appropriateness of the remuneration components at regular intervals to ensure a customary and competitive system. For this purpose, it will carry out horizontal peer group comparisons and vertical comparisons with the remuneration amounts and structure of a group of senior and executive managers below the Sixt SE Management Board level that was defined by the Supervisory Board and of the managing directors at the consolidated companies of the Sixt Group. Companies that are comparable to Sixt SE in terms of relevant criteria, such as industry (focus on mobility services) and size (measured in terms of revenue, employees and market capitalization), are used to assess horizontal customary practice. The majority of the comparable companies are from Germany (especially MDAX). In addition, international companies were also taken into account.
COMMITTEES OF THE SUPERVISORY BOARD OF SIXT SE
The Supervisory Board had established an Audit Committee and a Nomination Committee in financial year 2022. Their tasks, responsibilities and work processes comply with the requirements of the German Stock Corporation Act (AktG) and the German Corporate Governance Code. A Remuneration Committee was also established at the beginning of the financial year 2023.
Members: Dr Julian zu Putlitz (Chairman), Anna Magdalena Kamenetzky-Wetzel and Dr Daniel Terberger
The Audit Committee deals in particular with the audit of the accounting, the monitoring of the accounting process, the effectiveness of the internal control system, the risk management system and the internal audit system, the audit of the financial statements and their quality and compliance, as well as the internal procedure for related party transactions (section 111 (2), sentence 2 of the AktG) and the approval of such transactions in accordance with section 111b (1) of the AktG. The details of the working methods and responsibilities of the audit committee are regulated in the rules of procedure for the audit committee, which the supervisory board has issued.
Members: Mr Erich Sixt and Dr Daniel Terberger
The Nomination Committee has the task of proposing suitable candidates to the Supervisory Board for the election of Supervisory Board members by the Annual General Meeting. In addition to the required skills and professional experience of the proposed candidates, the objectives specified by the Supervisory Board for its composition, the competence profile and the diversity concept shall be taken into account.
Members: Mrs Anna Magdalena Kamenetzky-Wetzel (Chairwoman), Dr Julian zu Putlitz and Dr Daniel Terberger
The Remuneration Committee supports the Supervisory Board in the appropriate structuring of the Management Board remuneration and, in particular, prepares the remuneration system for the members of the Management Board and reviews the appropriateness of the total remuneration of the Management Board members.