The Annual General Meeting (AGM) takes place every year within six months after the close of the financial year.
The General Meeting has the following powers:
- To establish and amend the Articles of Association
- To elect the members and the Chairman of the Board of Directors and the members of the compensation committee
- To elect the auditors and the independent proxy
- To approve the management report and the consolidated financial statements
- To approve the annual accounts and to decide upon the appropriation of the net profit shown in the balance sheet
- To approve the compensation for the Board of Directors and the Group Executive Board pursuant to Article 43 of the Articles of Association
- To give the members of the Board of Directors and of the Group Executive Board a discharge
- To take decisions on all matters reserved to the General Meeting by law or by the Articles of Association, or which are placed before it by the Board of Directors.