Management

Management board:

Supervisory board:

As required by the Austrian Stock Corporation Act, we have a two-tier board system consisting of a management board and a supervisory board. The two boards are separate, and no individual may serve on both boards simultaneously.

Our management board is responsible for managing our business and represents the company in our dealings with third parties and delegates some of its tasks to employees.

The supervisory board monitors and advises our management board and is responsible for the appointment and removal of members of our management board. Generally, our supervisory board may not perform management functions. However, our articles of association and the Austrian Stock Corporation Act require our management board to obtain prior approval from our supervisory board in connection with certain transactions, and our supervisory board is entitled to subject additional transactions or management board decisions to its prior approval.