2017 Integrated Report – Departure into a new era

Corporate governance

During the year under review, the Management Board and Supervisory Board of DB AG again considered the further development of corporate governance. In a Cabinet decision on July 1, 2009, the Federal Government adopted the Public Corporate Governance Code (PCGK). The Federal Government’s PCGK sets out the essential provisions of applicable law governing the management and monitoring of non-listed companies in which the Federal Republic of Germany holds a majority stake, while outlining the internationally and nationally acknowledged principles of good and responsible corporate governance. The Supervisory Board of DB AG dealt with the application of the PCGK within DB Group and adopted the necessary resolutions.

Supervisory Board members must immediately disclose any conflicts of interest and must also provide the Supervisory Board with information about any such conflicts. When Johannes Schmalzl was appointed managing director of the Chamber of Industry and Commerce for the Stuttgart region, effective November 1, 2017, he indicated that his new responsibility might entail a possible conflict of interest with regard to the Stuttgart 21 project. He therefore abstained from the Supervisory Board’s subsequent adoption of resolutions relating to the Stuttgart 21 project and was not involved in any Supervisory Board decisions connected with the same. Johannes Schmalzl resigned his mandate on the Supervisory Board of DB AG with effect from the end of December 31, 2017.