Our vision is to be the accepted PAIONeer in sedation and anesthesia; helping advance patient care.
Pursuant to section 161 of the German Stock Corporation Act (AktG), the Management Board and the Supervisory Board of PAION AG have an obligation to declare each year that the company has complied and is complying with the recommendations of the latest version of the ”Government Commission German Corporate Governance Code” published by the Federal Ministry of Justice in the official section of the Federal Gazette, or which of the recommendations have not been or are not being applied and why.
Pursuant to section 161 of the German Stock Corporation Act, the Management Board and the Supervisory Board of PAION AG declare: Since the last declaration of conformity in December 2015, PAION AG complied in the fiscal year 2016 and continues to comply with all recommendations of the „Government Commission on the German Corporate Governance Code” (version dated 05 May 2015), with the following exception:
Formation of committees (clause 5.3.3)
The German Corporate Governance Code recommends that the Supervisory Board shall form a nomination committee composed exclusively of shareholder representatives which proposes suitable candidates to the General Meeting for election to the Supervisory Board. The Supervisory Board of PAION AG consists of three members. The nomination of candidates is carried out by the whole Supervisory Board, so that the Supervisory Board has refrained from forming a nomination committee.
Aachen, December 2016
The Supervisory Board of PAION AG
Dr Jörg Spiekerkötter, Chairman of the Supervisory Board
The Management Board of PAION AG
Dr. Wolfgang Söhngen, Chairman of the Management Board
Abdelghani Omari, Member of the Management Board
Dr. Jürgen Raths, Member of the Management Board