Management and control
Corporate governance
The KION Group follows generally accepted standards of sound, responsible corporate governance. The German Corporate Governance Code (GCGC), as amended, provides the framework for management and control in the KION Group. The corporate governance standards that the Group applies, which go further than the legal requirements, are set out in the corporate governance statement in accordance with sections 289f and 315d HGB. This statement also contains the declaration of conformity pursuant to section 161 AktG*, which was issued by the Executive Board and the Supervisory Board of KION GROUP AG on December 16/18, 2024 respectively, and the corporate governance report pursuant to principle 23 GCGC. The corporate governance statement can be viewed and downloaded on the Company’s website. It also forms part of this annual report and is a component of the combined management report.
The essential features of the remuneration system are presented in KION GROUP AG’s separate 2024 remuneration report, which is published on the KION Group website (www.kiongroup.com/remuneration). The total amounts for Executive Board remuneration and Supervisory Board remuneration are also reported in the notes to the consolidated financial statements (note [47]).
* The declaration of conformity pursuant to section 161 AktG is not subject to a substantive audit by the auditor.
Executive Board
The Executive Board of KION GROUP AG is responsible for the operational management of the KION Group. It maintains a relationship of trust with, and is monitored by, the Company’s Supervisory Board. The Executive Board as a whole is collectively responsible for key operational and strategic decisions and for the allocation of resources.
Dr. Richard Robinson Smith is Chief Executive Officer of KION GROUP AG. At the start of May 2024, the Supervisory Board of KION GROUP AG extended his contract for a further five years until December 31, 2029. Christian Harm is Chief Financial Officer (CFO) of KION GROUP AG, while Executive Board member Valeria Gargiulo is Chief People & Sustainability Officer (CPSO) and Labor Relations Director.
The allocation of responsibilities in the operating business changed in 2024. On January 1, 2024, Hans Michael Larsson joined the Executive Board of KION GROUP AG as President KION SCS & ITS Americas. He is responsible for the Supply Chain Solutions (SCS) segment and for the Americas region in the Industrial Trucks & Services (ITS) segment. Also on January 1, 2024, Ching Pong Quek took on an additional role as the new Chief Technology Officer (CTO). The Executive Board member also continues in his role as President KION ITS APAC, but his previous responsibility for the Americas region in the ITS segment has been transferred to Hans Michael Larsson. In September 2024, the Supervisory Board of KION GROUP AG extended Ching Pong Quek’s term of appointment for a further five years to June 30, 2030. Andreas Krinninger continues in the role of President KION ITS EMEA, with responsibility for the EMEA region in the ITS segment. As a result of these changes, the schedule of responsibilities for the Executive Board of KION GROUP AG was updated with effect from January 1, 2024.
Supervisory Board
The Supervisory Board of KION GROUP AG, which was formed in accordance with the German Codetermination Act (MitbestG), comprises 16 people. It has an oversight function and advises the Executive Board on its handling of significant matters and business transactions. This includes monitoring and providing advice on sustainability topics.
In the reporting year, the Supervisory Board was supported by five standing committees (Nomination Committee, Executive Committee, Audit Committee, Mediation Committee, and Remuneration Committee).
All of the shareholder representatives on the Supervisory Board have been elected for a term of five years. Dr. Shaojun Sun was appointed to the Supervisory Board for the period up to the end of the Annual General Meeting to be held in May 2025. He replaced Tan Xuguang, who stepped down from the Supervisory Board on September 16, 2024.