With its 5,411 employees, Heidelberger Druckmaschinen AG is subject to the Codetermination Act which in Section 6 and 7 requires the creation of a supervisory board made up of equal number of staff and other representatives. Pursuant to Section 7 paragraph 1 of the Codetermination Act, in companies with a workforce of not more than 10,000 employees, this supervisory board must consist of six staff representatives and six representatives of the shareholders.
According to the Codetermination Act the most important responsibilities of the supervisory board include the appointment or the dismissal of management board members, the supervision and guidance of the management board, the approval of the annual financial statements, as well as significant corporate planning measures and business decisions.
As at: March 2020
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