Organisation and management

GRI-Indicators

The Executive Board of KION GROUP AG is responsible for the operational management of the KION Group. As at the end of 2017 it continued to comprise four members. The Group Executive Committee (GEC) advises the Executive Board of KION GROUP AG and contributes stimuli from the operating units. In addition to members of the Executive Board, the committee also includes Presidents of the operating units. The Executive Board maintains a trusting relationship with, and is monitored by, the Company’s Supervisory Board. This also advises the Executive Board in its handling of core tasks and major business transactions. The Supervisory Board’s size and composition is governed by the German Codetermination Act (MitbestG).

For further information on the duties and composition of the Executive Board and Supervisory Board of KION GROUP AG, see the Corporate governance report which is available online as part of the Annual Report 2017.

The Executive Board and Supervisory Board of KION GROUP AG believe that a firm commitment, driven by responsibility towards the Company, to the principles of rigorous corporate governance in accordance with corresponding recognized standards is essential to the Company’s long-term success. Compliance with these principles also promotes the trust that its investors, employees, business partners and the public have in the management and monitoring of the Company.

The KION Group works according to recognised standards of sound, responsible corporate governance. Besides statutory regulations, the German Corporate Governance Code (DCKG) guides how the KION Group manages and controls the Company. The KION Group fulfils all of the DCGK’s recommendations but one (no deductible under a D&O insurance for Supervisory Board members). The annual declaration of compliance which it is required to submit in accordance with section 161 of the German Stock Corporate Act (AktG) is accessible on its corporate website. Further information can also be found in the Corporate governance report.

The KION Group’s risk management system is documented in a Group risk policy that defines tasks, processes and responsibilities, and sets out the rules for identifying, assessing, reporting and managing risk. KION Group Annual Report 2017 – Outlook, risk report and opportunity report: Risk report