Main activities of the General and Nomination Committee

The General and Nomination Committee dealt in particular with the assessment and remuneration of the Management Board and the selection of new Management Board members. It is also entrusted with the search for and selection of candidates for vacant Supervisory Board positions. Its tasks also include preparing Supervisory Board resolutions in these areas. 

In 2024, the committee dealt with issues including the modernization of the Management Board remuneration system, which was approved by a large majority at the Annual General Meeting in May 2024. The share acquisition rules as part of the expiring LTI bonus system required detailed attention. The preparation of the adjustment to Supervisory Board remuneration, which is to be proposed to the 2025 Annual General Meeting, was also addressed. One focus of the committee’s activities was the search for new members of the Supervisory Board following the resignation of Miguel Ángel López Borrego in May 2024 and the upcoming end of Erika Schulte’s term at the 2025 Annual General Meeting.

Five meetings of the General and Nomination Committee were held in the 2024 fiscal year. All members attended all meetings. Details on attendance can be found in the table below MEETING ATTENDANCE 2024.