1. Declaration of conformity pursuant to section 161 (1) AktG
Section 161 (1) of the German Stock Corporation Act (AktG) requires the executive board and supervisory board of a publicly listed company to issue an annual declaration stating that the company has complied with, and intends to comply with, the recommendations in the prevailing version of the GCGC or – if necessary – stating the recommendations with which it has not complied or does not intend to comply, and the reasons why.
The Executive Board and Supervisory Board of KION GROUP AG submitted the Company’s previous declaration of conformity on November 27/December 12, 2023.
Both decision-making bodies again considered the recommendations and suggestions of the GCGC in detail and, on December 16/18, 2024, issued the following declaration of conformity for KION GROUP AG as required by section 161 (1) AktG:
Since issuing the last declaration of conformity on December 12, 2023 until December 31, 2023, KION GROUP AG has complied with all the recommendations of the German Corporate Governance Code as amended on April 28, 2022 (GCGC), with the exception of recommendation G.10 sentence 2. From January 1, 2024, when the new Executive Board remuneration system became effective, KION GROUP AG has complied with all the recommendations of the GCGC, and intends to continue to comply with them in the future.
The short-term deviation from recommendation G.10 sentence 2 of the GCGC results from the former Executive Board remuneration system, which was formally valid until December 31, 2023 and which the company has adjusted with effect from January 1, 2024.
KION GROUP AG also complies with the non-mandatory suggestions of the German Corporate Governance Code.
Frankfurt am Main, December 16/18, 2024
For the Executive Board:
Dr. Rob Smith
Christian Harm
For the Supervisory Board:
Hans Peter Ring
The declaration of conformity is permanently available to the public on the KION GROUP AG website at www.kiongroup.com/conformity. KION GROUP AG’s declarations of conformity for the previous ten years are also permanently available to the public via this link on the KION GROUP AG website.