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The Management Board is responsible for the day-to-day management of the operations of the company. Its responsibilities involve setting and achieving the company's strategic objectives, managing the company's strategic risks, legal compliance and corporate social responsibility matters insofar as relevant to the company's business. More details about the Management Board's responsibilities, duties and powers can be read in the Management Board Rules.
The Management Board consists of at least two members. The members are appointed by the General Meeting, subject to the right of the Supervisory Board to make a binding nomination. Each member of the Management Board is appointed for a maximum of four years with the possibility of re-appointment for consecutive four year terms in accordance with the Corporate Governance Code.