The Management Board is the Company’s executive body and currently has three members. The Chief Executive Officer (CEO) is Aloysius Rauen. The other members are Rainer Beaujean and Thomas H. Hagen. More information on the individual members can be found on the Internet at http://www.demagcranes-ag.de/managementboard.

The Management Board develops the Company’s strategic focus, agrees it with the Supervisory Board and ensures that it is implemented. The Management Board informs the Supervisory Board regularly, comprehensively and without delay of all issues important to the Company with regard to planning, business development, risk situation, risk management and compliance. It also reports to the Supervisory Board at least once a year about proposed business policies, the budget for the coming financial year and the medium-term plan for the following years.

The work of the Management Board, in particular the responsibilities of its individual members, matters reserved for the Management Board as a whole and the required majority for Management Board resolutions, is governed by the Rules of Procedure for the Management Board issued by the Supervisory Board. These Rules of Procedure also define key measures for which the Management Board must obtain approval from the Supervisory Board. The Management Board generally makes decisions by passing resolutions with a simple majority.

The members of the Management Board are obliged to disclose any conflicts of interest to the Supervisory Board without delay and to inform the other Management Board members thereof. No conflicts of interest arose in the reporting period. Nor were any transactions between the Company on the one hand and members of the Management Board or persons or undertakings closely related to a Management Board member on the other, entered into in the financial year.

When filling management positions in the Company, the Management Board attaches importance to diversity, aiming in particular to achieve an appropriate representation of women. The appropriate representation of women and intercultural diversity are specified and put into practice in the human resources strategy. Moreover, when advertising jobs both internally and externally, women should be represented wherever possible among the applicants. Intercultural diversity in the Company is to be ensured through an international human resources policy. Diversity, in terms of gender and internationality, is to be reflected in all of our companies’ management bodies in the future.