Committees of the Supervisory Board
The Supervisory Board of KUKA SE & Co. KGaA is made up of twelve members: six members elected at the Annual General Meeting and six members elected in accordance with the German Co-Determination Act.
The Supervisory Board elects a chair and at least one deputy chair from among its members. In each case, these positions are filled for the term of office of these elected Supervisory Board members. If any of these members resigns from the Supervisory Board during their term of office, a new election shall be held without delay in order to fill the open position.
Following the election of the employee representatives on April 10, 2018 and the shareholder representatives at the Annual General Meeting on June 6, 2018, the Supervisory Board of the company was formed for a term of office that will run until the end of the Annual General Meeting in 2023.
The Supervisory Board forms a committee in accordance with section 27 para. 3 of the German Co-determination Act. The Supervisory Board can form other committees from among its members and determine their tasks and powers. Decision-making powers may also be assigned to the committees to the extent permitted by law.
The Audit Committee
The Audit Committee deals in particular with issues relating to accounting, risk management, compliance, the necessary independence of the auditor, the issuing of the audit assignment to the auditor, the determination of focal points of the audit and the fee agreement. The Audit Committee is responsible for the preliminary audit of the annual financial statements, the management report and the audit report of KUKA SE & Co. KGaA and KUKA Group. On the basis of the auditor’s report, it submits proposals to the Supervisory Board after its own examination for the adoption of the annual financial statements of KUKA SE & Co. KGaA and for the approval of the consolidated financial statements by the Supervisory Board.
The Audit Committee prepares the proposal of the Supervisory Board to the Annual General Meeting for election of the auditor. It discusses the quarterly reports and the mid-year financial report with the Executive Board. The Audit Committee deals with the company’s risk management system and monitors the quality and effectiveness of the risk management system and the internal control and auditing systems. The corporate audit department reports regularly to the Audit Committee. The Audit Committee also deals with compliance in the company, which includes the compliance program, the compliance management system and individual compliance cases. The Chief Compliance Officer reports regularly to the Audit Committee.
Members of the Audit Committee:
Chairman: Philipp Frings
Eric Wang
Guido Grandi
Armin Kolb
Carola Leitmeir
Matti Riedlinger