DGAP-News

Knorr-Bremse Aktiengesellschaft: The Supervisory Board of Knorr-Bremse AG focuses on continuity and change - Seite 2

The initially planned election of Dr. Nicolas Peter to the Supervisory Board will be postponed.

The Supervisory Board also decided to re-elect Mrs. Kathrin Dahnke, Dr. Thomas Enders, Mrs. Thiele-Schürhoff and Dr. Theodor Weimer to the Supervisory Board. With the re-election of Mrs. Thiele-Schürfhoff, the Thiele family, which holds around 59% of Knorr-Bremse shares, remains represented on the Supervisory Board and thus contributes its family interests. The re-election of Mrs. Thiele-Schürhoff also reflects the successful link between family corporate structures on the one hand and the principles of a listed company on the other.

The Supervisory Board also made an important personnel decision to complement the Executive Board of Knorr-Bremse AG: Mrs. Dr. Claudia Mayfeld (57) will be appointed to the Executive Board on May 1, 2021 for an initial period of three years and will head the newly created department Integrity and Legal. "In Dr. Mayfeld, we have found a highly qualified member of our Executive Board with broad professional experience," said Prof. Dr. Klaus Mangold. Dr. Mayfeld was most recently General Counsel and Head of Legal & Compliance at innogy SE and previously held the same position at RWE AG. The Executive Board under the chairmanship of Dr. Jan Mrosik and the current members of the Executive Board, Dr. Peter Laier, Frank Markus Weber and Dr. Jürgen Wilder, is thus excellently staffed for the coming years.

Furthermore, the Executive Board and Supervisory Board have decided to propose to the Annual General Meeting a dividend of 1.52 euros per share for the 2020 financial year. With a constant payout ratio of just under 46%, this will reduce the total dividend payout by around 45 million euros (-15%). This ratio is within the target range of Knorr-Bremse AG's dividend policy (payout ratio of between 40% and 50% of Group net income).

The Supervisory Board and Executive Board have also decided to give employees a share in the company's success through a global stock program. The program bears the name of Heinz Hermann Thiele and is to be seen above all as a special recognition of the employees' decades of commitment to the company and its economic success.