SIEMENS ENERGY AG Corporate
Governance
Roadshow
Joe Kaeser, Chairman of the Supervisory Board
January 2024
Siemens Energy is a trademark licensed by Siemens AG.
AGM 2024 - Agenda items
Topic | Content | |
TOP 1 | Annual Financial Statements (IFRS and HGB), Combined Management Report for Fiscal 2023 | |
TOP 2 | Appropriation of net income | |
TOP 3 | Ratification of acts of Executive Board Members (to be voted upon individually) | |
TOP 4 | Ratification of acts of Supervisory Board Members (to be voted upon individually) | |
TOP 5 | Appointment of Independent Auditor for fiscal 2024 (New: KPMG) | |
TOP 6 | Approval of Compensation Report for fiscal 2023 | |
TOP 7 | Elections to the Supervisory Board (to be voted upon individually) | |
TOP 8 | Compensation for members of the Supervisory Board and related amendments to the Articles of Association | |
TOP 9 | Authorized Capital 2024 | |
▪ Same volume and scope (≤ 50% of share cap.) as existing authorized capital of 2023 | ||
▪ Exclusion of subscription rights (≤ 10%), now also against contributions in kind (M&A etc.) | ||
TOP 10 | Authorization to Issue Convertible Bonds/Warrant Bonds and respective new Conditional Capital 2024 | |
▪ Same volume and scope (€4bn) / ≤ 10% of share cap.) as existing authorization of 2023 | ||
▪ Exclusion of subscription rights (≤ 10%), now also against contributions in kind (M&A etc.) | ||
TOP 11 | Authorization to Acquire and Use Treasury Shares 2024 | |
▪ Same volume (≤ 10% of share cap.) and scope as existing authorization of 2023 | ||
▪ Exclusion of subscription rights (≤ 10%), now also against contributions in kind (M&A etc.) | ||
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January 2024 | © Siemens Energy, 2024 |
Virtual AGM
3 | ||
January 2024 | Siemens Energy is a trademark licensed by Siemens AG. | © Siemens Energy, 2024 |
AGM 2024 in virtual format
- On February 26, 2024, the AGM 2024 shall be held as virtual meeting(without physical presence of the shareholders or their representatives) based on the AGM 2023 approval of Articles of Assocation (91.7% approval rate)
- Virtual format preferred to allow widespread active participation and due to cost and sustainability reasons
Main considerations to improve shareholder experience vs. AGM 2023:
Shareholder addresses and questions can be asked in German and English (simultaneous interpretation provided by the company) - increased attractiveness for international shareholders
- Active international shareholder participation already at AGM 2023
Complete AGM can be viewed publicly without login requirement - user friendly experience
Technical issues at the beginning of AGM 2023 have been analyzed in detail and fixed - despite these issues shareholders' participation in general debate was never affected in AGM 2023
-
After the "teething troubles" of ADEUS' internet service on its first deployment in SE's
AGM 2023, all subsequent AGMs in 2023 supported by ADEUS ran smoothly. SE established clear processes to ensure internet service stability in AGM 2024
January 2024
Live Interaction with shareholders
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© Siemens Energy, 2024
Supervisory Board
Elections
5 | ||
January 2024 | Siemens Energy is a trademark licensed by Siemens AG. | © Siemens Energy, 2024 |
Supervisory Board Members - Shareholder Representatives as of AGM 2024
Highly experienced, international and diverse (60% female)
Dr. Christine | Sigmar | Prof. Dr. | Dr. Hubert | Simone | Hildegard | Laurance | Matthias | Geisha | ||||||
Joe Kaeser1 | Veronika | Jimenez | ||||||||||||
Bortenlänger | Gabriel | Lienhard | Menne2 | Müller | Mulliez | Rebellius | ||||||||
Grimm2 | Williams | |||||||||||||
Date of Birth | 23.06.1957 | 17.11.1966 | 12.09.1959 | 05.09.1971 | 12.01.1951 | 07.10.1960 | 29.06.1967 | 06.02.1966 | 02.01.1965 | 21.07.1961 | ||||||||||||
Mandate since | 25.09.2020 | 25.09.2020 | 25.09.2020 | 26.02.2024 | 25.09.2020 | 26.02.2024 | 25.09.2020 | 25.09.2020 | 25.09.2020 | 25.09.2020 | ||||||||||||
Election / Expiration (4 years) | 2021 / 2025 | 2021 / 2025 | 2021 / 2025 | 2024 / 2027 | 2021 / 2025 | 2024 / 2028 | 2021 / 2025 | 2021 / 2025 | 2021 / 2025 | 2021 / 2025 | ||||||||||||
▪ | Presiding | ▪ | Audit | ▪ | Presiding | ▪ | Audit | ▪ | Sustainability & | ▪ | Nomination | |||||||||||
▪ | Audit | ▪ | Nomination | ▪ | Special Committee | Finance | ▪ | Sustainability & | ||||||||||||||
SE committees | ▪ | Nomination | ▪ | Sustainability & | Siemens Gamesa | ▪ | Special Committee | Finance | ||||||||||||||
▪ | Sustainability & | Finance | Siemens Gamesa | |||||||||||||||||||
Finance | ▪ | Mediation | ||||||||||||||||||||
▪ | Mediation | ▪ | Special Committee | |||||||||||||||||||
Siemens Gamesa | ||||||||||||||||||||||
Independence | yes | yes | yes | yes | yes | yes | yes | yes | no | yes | ||||||||||||
Executive | no | no | no | no | no | no | no | no | yes | no | ||||||||||||
Listed | Listed | Listed | Listed | Listed | Listed | Listed | Listed | Non-listed | ||||||||||||||
▪ | Daimler Truck | ▪ | Covestro AG | ▪ | Deutsche Bank AG | ▪ | EnBW Energie BW | ▪ | Deutsche Post AG | ▪ | Vonovia SE | ▪ | Morgan Advanced | ▪ | Siemens Ltd., India | ▪ | Artera Services | |||||
Holding AG1 | ▪ | MTU Aero Engines | AG | ▪ | Henkel AG & Co | Materials plc. | LLC | |||||||||||||||
Mandate | ▪ | Linde PLC | AG | Non-listed | Non-listed | KGaA | Non-listed | ▪ | Voltalia SA.1 | Non-listed | ▪ | Osmose Utility | ||||||||||
excl. SE | Supervisory | ▪ | Heristo AG | ▪ | Johnson Controls | ▪ | RAG Stiftung | ▪ | Arabia Electric Ltd. | Services, Inc.1 | ||||||||||||
Non-listed | Non-listed | ▪ | Thyssenkrupp Steel | ▪ | Heraeus Holding | International plc | Non-listed | ▪ | Siemens Ltd., | |||||||||||||
Board | ||||||||||||||||||||||
▪ | Daimler Truck AG | ▪ | Covestro | Europe AG1 | GmbH | ▪ | Globeleq Ltd.1 | Saudi Arabia | ||||||||||||||
Deutschland AG | ▪ | Kaefer Mngmt SE | Non-listed | ▪ | Siemens Qatar | |||||||||||||||||
▪ | TÜV Süd AG | ▪ | SMS GmbH | ▪ | Russel Reynolds | ▪ | Siemens Schweiz | |||||||||||||||
▪ | SMS group GmbH | Associate Inc. | AG | |||||||||||||||||||
Diversity | Female | no | yes | no | yes | no | yes | yes | yes | no | yes | |||||||||||
International | no | no | no | no | no | no | no | yes | no | yes | ||||||||||||
6 | ||||||||||||||||||||||
January 2024 | 1) Chairman 2) Subject to election at AGM 2024 | © Siemens Energy, 2024 |
Prof. Dr. Veronika Grimm
University Professor
Personal information:
Date of birth: | 5 September 1971 |
Place of birth: | Rendsburg, Germany |
Nationality: | German |
Education:
- Habilitation in economics, University of Cologne
- PhD in economics, Humboldt University Berlin
- Degree in economics, University of Kiel
Professional history:
Mandates:
No membership in statutory supervisory boards in Germany.
No membership in comparable supervisory bodies of business enterprises in Germany and abroad.
No other significant activities.
Key areas of expertise:
- Energy markets and sector coupling, including methods for energy market analysis
- Energy market design and policy
- Hydrogen economy and technologies
2020-present | Member of the National Hydrogen Council of the Federal Government |
2020-present | Member of the German Council of Economic Experts |
2019-present | Member of the Expert commission on the "Energy of the Future" monitoring |
process at the Federal Ministry for Economic Affairs and Climate Action | |
2028-present | Chair of Economic Theory, Friedrich Alexander University Erlangen-Nuremberg |
2005-2008 | Assistant Professor, University of Cologne |
2003-2005 | Assistant Professor, Universidad de Alicante, Spain |
1998-2003 | Research Assistant, Humboldt University Berlin |
January 2024 |
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© Siemens Energy, 2024
Simone Menne
Member of various Supervisory Boards
Personal information: | |
Date of birth: | 7 October 1960 |
Place of birth: | Kiel, Germany |
Nationality: | German |
Education:
Studies of Economics and Business Administration at the
Chrisitan Albrecht University, Kiel
Professional history:
2021-present President and Member of the Executive Committee of the American Chamber of Commerce, Germany
2016-2017 Boehringer Ingelheim International GmbH, Ingelheim am Rhein,
Member of the Managing Board
2012-2016 Deutsche Lufthansa AG, Frankfurt am Main, Member of the Managing Board and Executive Vice President Finance and Aviation Services
2010-2012 British Midland Ltd., London, UK, Chief Financial Officer
1989-2010 Deutsche Lufthansa AG, Frankfurt am Main, various management positions
January 2024
Membership in statutory supervisory boards in Germany:
- Deutsche Post AG, Bonn (stock exchange listed)
- Henkel AG & Co. KGaA, Düsseldorf (stock exchange listed)
Membership in comparable supervisory bodies of business enterprises in Germany and abroad:
- Johnson Controls International plc., Cork, Ireland (stock exchange listed)
- Russell Reynolds Associates Inc., New York, U.S.
No other significant activities.
Key areas of expertise:
- Finance, accounting and controlling
- Leadership
- Digitalization
- Strategy development
- Sustainability
- Diversity and Inclusion
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© Siemens Energy, 2024
Meeting Statistics / Attendance
Almost 100% attendance of Supervisory Board members
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January 2024 | © Siemens Energy, 2024 |
Supervisory Board Committee & Independence
The Supervisory Board is divided into 10 employee representatives, who are considered dependent due to their company affiliation, and 10 shareholder representatives, who are elected by the AGM
Supervisory Board Committees1
Presiding Committee | Joe Kaeser (Chair) (I) | Hubert Lienhard (I) | ||
(50% independent) | Robert Kensbock | Jürgen Kerner | ||
Audit Committee | Laurence Mulliez (Chair) (I) | Christine Bortenlänger (I) | Joe Kaeser (I) | Ralf Thomas |
(~40% independent) | Robert Kensbock | Andrea Fehrmann | Nadine Florian | Manfred Bäreis |
Sustainability and | Joe Kaeser (Chair) (I) | Hubert Lienhard (I) | Matthias Rebellius | Geisha Williams (I) |
Finance Committee | ||||
Robert Kensbock | Jürgen Kerner | Günter Augustat | Thomas Pfann | |
(~40% independent) | ||||
Nominating Committee | Joe Kaeser (Chair) (I) | Hubert Lienhard (I) | Ralf Thomas | Geisha Williams (I) |
(75% independent) | ||||
Mediation Committee | Joe Kaeser (I) | Hubert Lienhard (I) | ||
(50% independent) | Robert Kensbock | Jürgen Kerner | ||
Special Committee | ||||
Hubert Lienhard (Chair) (I) | Laurence Mulliez (I) | Matthias Rebellius | Randy Zwirn (I) | |
Siemens Gamesa | ||||
(40% independent) | Nadine Florian | Horst Hakelberg | Robert Kensbock | Jürgen Kerner |
(I) = independent
January 2024 | 1) Composition until AGM 2024, changes to come due to Supervisory Board elections |
Independence
Shareholder Representatives
20%
(2)
Before Supervisory
Board elections 2024
80%
(8)
Independent
Non-independent
10%
(1)
After Supervisory
Board elections 2024
90%
(9)
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© Siemens Energy, 2024
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Disclaimer
Siemens Energy AG published this content on 21 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2023 14:42:42 UTC.
