§ 6 of the Statutes of Allianz SE in its current version provides that the Supervisory Board consists of twelve members who are all appointed by the General Meeting. Six members shall be appointed upon proposal of the employees and the General Meeting is bound to the proposals for the appointment of the employee representatives.
In amendment of the Agreement Concerning the Participation of Employees in Allianz SE dated July 3, 2014, the parties made use of the option to codify the process for the nomination and appointment of the employee representatives of the Supervisory Board within this Agreement (Art. 40 (2) sentence 3 SE-VO; § 21 (3) SEBG). Accordingly, the employee representatives of the Supervisory Board will, in the future, be appointed by the SE Works Council instead of the General Meeting. The Statutes have to be amended accordingly.
The Management Board and the Supervisory Board therefore propose that the following resolution be adopted:
§ 6 of the Statutes of Allianz SE shall be amended as follows:
"The Supervisory Board consists of twelve members and is to be composed of six shareholder representatives and six employee representatives. The shareholder representatives are appointed by the General Meeting. The appointment of the employee representatives is carried out in accordance with the provisions of the Agreement Concerning the Participation of Employees in Allianz SE as amended from time to time, which is agreed upon in accordance with the SE Participation Act (SE-Beteiligungsgesetz – SEBG).“