Corporate Governance Declaration 2018

The Management Board and Supervisory Board of Pfeiffer Vacuum Technology AG declare Pursuant to section 161 German Stock Corporation Act (AktG) that the Company has complied with the recommendations of the “Government Commission on the German Corporate Governance Code” as amended on February 7, 2017, and after the date of submission of the previous Corporate Governance Declaration on January 24, 2018, with the following exceptions:

  • The German Corporate Governance Code recommends a deductible for the Supervisory Board’s D&O insurance (Paragraph 3.8). The Supervisory Board’s actual D&O insurance does not contain a deductible. A deductible would not improve the Supervisory Board’s overall motivation and sense of responsibility as the members work for the benefit of the Group.
  • The German Corporate Governance Code recommends that a term limit is established for the period on the Supervisory Board (Paragraph 5.4.1). In the financial year 2018, the Supervisory Board has set a specified limit of 15 years for the period of membership on the Supervisory Board. All members of the Supervisory Board fulfil this requirement, with the exception of Mr. Götz Timmerbeil; the Supervisory Board made an exception for him, since he possesses a high level of expertise and many years of knowledge of the Company, which the Supervisory Board would not like to forgo at this point in time and after the resolved changes to the Supervisory Board in the past three years.

Asslar, December 5, 2018

Supervisory Board/Management Board

Pfeiffer Vacuum Technology AG

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