What will be the impact of the conversion to a European company on the employee co-determination in the supervisory board?
Unlike under German law, the legal form of a SE does not require that the Supervisory Board be made up of equal numbers of employee representatives and employer representatives. However, Allianz will continue to apply the principle of equal representation under which employee representatives from various European countries are members of the Supervisory Board. A special procedure has been carried out for this purpose in accordance with the “Council Directive 2001/86/EC of 8 October 2001 supplementing the European Company Statute with regard to the involvement of employees” and the German SE-Beteiligungsgesetz (= law on involvement of employees). A special negotiating body of the employees has held negotiations with the managements of Allianz AG and Riunione Adriatica di Sicurtà S.p.A. regarding the future involvement of employees in Allianz SE. In accordance with the equal co-determination principle, the supervisory board consists of employee representatives from different European cou
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