Declaration of conformity with some exceptions

In 2017, the Board of Management and the Supervisory Board once again carefully considered to what extent it was proper and consistent with the Company’s objectives for DEUTZ to apply all the guidelines and recommendations of the DCGK. As a result, DEUTZ AG complies with the recommendations of the Code, as amended on 7 February 2017, with the following exceptions:

  1. The D&O insurance taken out by DEUTZ AG for the members of the Supervisory Board does not provide for any excess, contrary to article 3.8 (2) and (3) DCGK. In the case of Supervisory Board members, an excess of this type is, as before, not considered an appropriate means of control.
  2. There is no age limit at DEUTZ AG for members of either the Board of Management or Supervisory Board, contrary to articles 5.1.2 (2) sentence 3 and 5.4.1 (2) sentence 1 DCGK.
  3. Furthermore, there is no general limit on length of membership of the Supervisory Board, contrary to article 5.4.1 (2) sentence 1 DCGK. These exceptions enable DEUTZ AG to retain the option of benefiting from the experience brought to the Company by older members of the Board of Management and Supervisory Board and by long-standing members of the Supervisory Board.
  4. DEUTZ AG does not yet have a skills profile for the Supervisory Board, contrary to article 5.4.1 (2) sentence 1 DCGK. The DEUTZ AG Supervisory Board is currently drawing up a skills profile ahead of the Supervisory Board election to be held in 2018.

The current declaration of conformity in accordance with section 161 of the German Stock Corporation Act (AktG), which the Board of Management and Supervisory Board submitted on 21 September 2017, can be accessed in the ‘Investor Relations/Corporate Governance’ section of the Company’s website at Declarations of conformity from previous years can also be viewed and downloaded there.