At their meeting on 7 December 2011, the Executive Board and Supervisory Board issued the following declaration of compliance with the German Corporate Governance Code (the Code):
“In accordance with Section 161 of the German Stock Corporation Act (AktG), the Executive Board and Supervisory Board of Deutsche Lufthansa AG declare that the recommendations of the German Corporate Governance Code, as published by the Federal Ministry of Justice in the official section of the electronic Federal Gazette on 2 July 2010 (the Code), have been complied with since the last declaration of compliance with the following exceptions and will continue to be complied with:
The Executive Board members Wolfgang Mayrhuber (until 31 December 2010) and Stephan Gemkow in the past held more than three supervisory board seats in publicly listed companies outside the Group or on supervisory boards of companies with similar demands. As announced in the last declaration of compliance, since 26 May 2011 all Executive Board members have complied with the maximum number of board seats in companies outside the Group as stipulated in 5.4.5 of the Code.
The Supervisory Board believes that the diversity of its composition is important for the Company and at the same time would like to see more women represented. Notwithstanding 5.4.1 of the Code, it does not, however, define any concrete targets in the form of quotas or absolute numbers. When proposing candidates for election to the Annual General Meeting, the Supervisory Board will be guided by the knowledge, skills and professional experience of the potential nominees. A general age limit of 70 years is already included in Section 8 Paragraph 2 of the Articles of Association.”