The requirements of supervisory boards have hugely increased
An experienced and modern supervisory board can help shape the wider conditions for sustainable business success, mitigate company risks and create genuine added value. The supervisory board has a considerable responsibility for ensuring the sustainable development of the business as regards the owners and/or shareholders, but also the employees (“corporate governance”).
“Until recently, increasing liability risks largely appeared to be a topic for directors. Now, it’s a topic for their supervisor as well. … For me, the issue of whether supervisory committees in Germany – in terms of their current constitution, composition and qualification – are in a position to fulfil the current requirements surrounding statutory corporate governance is open to question. … The times in which it was possible to occupy several offices at the same time without the need for much preparation are now over.”