Some of the responsibilities that lie with the supervisory board of a German stock corporation are fulfilled at Merck by E. Merck KG. This applies primarily to the Board of Partners of E. Merck KG. Therefore, the Board of Partners and the composition and procedures of its committees are described in the following.
The Board of Partners has nine members.
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Memberships of | |
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Member |
(a) |
other statutory supervisory boards and |
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Frank Stangenberg-Haverkamp |
(a) |
– Fortas AG, Rösrath (Chairman) |
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Johannes Baillou |
(a) |
– Merck KGaA, Darmstadt |
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Jon Baumhauer |
no board positions | |
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Frank Binder |
(a) |
– Merck KGaA, Darmstadt |
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Wolfgang Büchele |
(a) |
– Merck KGaA, Darmstadt |
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Rolf Krebs |
(a) |
– Merck KGaA, Darmstadt |
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Hans-Jürgen Leuchs |
(a) |
– Merck KGaA, Darmstadt |
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Albrecht Merck |
(a) |
– Merck KGaA, Darmstadt |
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Theo Siegert |
(a) |
– Merck KGaA, Darmstadt |
The Board of Partners supervises the Executive Board in its management of the company. It informs itself about the business matters of Merck KGaA, and may inspect and examine the company’s accounts and other business documents, and the assets for this purpose. According to Article 13 (4) of the Articles of Association of Merck KGaA, the Executive Board requires the approval of E. Merck KG for transactions that are beyond the scope of the Group’s ordinary business activities. For such transactions to be approved, approval must first be obtained from the Board of Partners of E. Merck KG. The Board of Partners convenes as and when necessary; however, it meets at least four times a year. The members of the Executive Board of Merck KGaA are invited to all meetings of the Board of Partners, unless the Board of Partners resolves otherwise in individual cases. The members of the Board of Partners may convene a joint meeting with the Supervisory Board of Merck KGaA if so agreed by the chairmen of the two boards.
The Board of Partners may confer the responsibility for individual duties to committees. Currently the Board of Partners has three committees in place: the Personnel Committee, the Finance Committee, and the Research and Development Committee.
Personnel Committee
The Personnel Committee has four members: Frank Stangenberg-Haverkamp (Chairman), Jon Baumhauer, Rolf Krebs, and Theo Siegert.
The Personnel Committee meets at least twice a year. Further meetings are convened as and when necessary. Meetings of the Personnel Committee are attended by the Chairman of the Executive Board of Merck KGaA unless the Committee decides otherwise.
The Personnel Committee is responsible for, among other things, the following decisions concerning members and former members of the Executive Board: contents of employment contracts and pension contracts, granting of loans and advance payments, approval for taking on honorary offices, board positions and other sideline activities, as well as division of responsibilities within the Executive Board of Merck KGaA. The Personnel Committee passes its resolutions by a simple majority – in matters concerning the Chairman of the Executive Board unanimity is required. The Chairman of the Committee regularly informs the Board of Partners of its activities.
Finance Committee
The Finance Committee has four members: Theo Siegert (Chairman), Johannes Baillou, Wolfgang Büchele, and Frank Stangenberg-Haverkamp.
The Finance Committee holds at least four meetings a year, at least one of which is a joint meeting with the auditor. Further meetings are convened as and when necessary. Meetings of the Finance Committee are attended by the Chief Financial Officer of Merck KGaA. Other members of the Executive Board of Merck KGaA may attend the meetings upon request by the Committee. These meetings regularly include the Chairman of the Executive Board. The Finance Committee is responsible for, among other things, analyzing and discussing the annual financial statements and the respective auditor’s report as well as the quarterly and half-year financial reports. Furthermore, the Finance Committee recommends to the Chairman of the Supervisory Board annual audit focuses for the auditors. It also recommends an auditor for the Supervisory Board’s corresponding suggestion to the General Meeting. In addition, the Finance Committee is concerned with the financial position, results of operations and liquidity of Merck, as well as accounting and compliance issues. Upon request of the Board of Partners, the Finance Committee examines capital spending projects that must be approved by the Board of Partners and provides recommendations pertaining thereto.
Research and Development Committee
The Research and Development Committee has three members: Rolf Krebs (Chairman), Hans-Jürgen Leuchs and Frank Stangenberg-Haverkamp.
The Research and Development Committee is convened as and when necessary, but holds meetings at least twice a year. Meetings of the Research and Development Committee are attended by members of the Executive Board of Merck KGaA upon request of the Committee. These meetings regularly include the Chairman of the Executive Board as well as the members of the Executive Board responsible for the Pharmaceuticals and Chemicals business sectors. The Chairman of the Research and Development Committee is responsible, among other things, for analyzing and discussing the research activities of Pharmaceuticals and Chemicals. The Pharmaceuticals and Chemicals business sectors present the status of their respective research to the Research and Development Committee in special meetings. The Committee deals thoroughly with the pharmaceutical research progress report and with developments of new medicines in Phases II and III of clinical research. The Chairman of the Committee reports to the Board of Partners on the insights gained from the meetings held.