Compliance Statement
Every year, the Executive Board and the Supervisory Board of publicly listed stock corporations are required to issue a statement declaring that the recommendations of the "Government Commission on the German Corporate Governance Codex“ have been observed and/or detailing the recommendations that have not been followed, or are not followed. The statement must be kept permanently available to the shareholders. The compliance statements pertaining to previous years are available in PDF format for download at the end of the page.
Declaration of conformity with the German Corporate Governance Code by the Executive Board and Supervisory Board of MTU Aero Engines AG, pursuant to Section 161 of the German Stock Corporation Act (AktG)
In December 2024, the Management Board and Supervisory Board declared that all recom-mendations of the “Government Commission on the German Corporate Governance Code” published by the Federal Ministry of Justice in the official section of the Federal Gazette in the version dated April 28, 2022 have been and will be complied with. This declaration is updated as follows:
Code recommendation section B.3: The initial appointment of members of the Management Board should be for a maximum of three years.
In deviation from the aforementioned recommendation of the Code, Dr. Johannes Bussmann has been appointed to the Management Board for a period of five years upon the departure of the current Chairman of the Management Board. As in the past, the duration of an initial appointment is determined by the Supervisory Board on a case-by-case basis and in the best interests of the company.
In the view of the Supervisory Board, the duration of the initial appointment is in the best interests of the company in view of Dr. Bussmann's qualifications and experience, as well as to ensure a stable management structure and the implementation of long-term strategic goals.
Apart from that, the previous declaration of conformity continues to apply without restriction.
Munich, December, 2024
