In compliance with the German Stock Corporation Act (AktG), Wacker Chemie AG has a two-tier management system, comprising the Executive Board and Supervisory Board. The Executive Board has four members. Wacker Chemie AG is the parent company and thus determines the Group’s strategy, overall management, resource allocation, funding, and communications with key target groups (especially with the capital market and shareholders).

Executive Board Responsibilities

Executive Board and Supervisory Board in Fiscal 2015

There were changes in the Executive Board and Supervisory Board in 2015.

CFO Dr. Joachim Rauhut left Wacker Chemie AG’s Executive Board on October 31, 2015 at the end of his term. Executive Board member Dr. Tobias Ohler took over as CFO effective November 1, 2015. Dr. Christian Hartel joined WACKER’s Executive Board also effective November 1, 2015, taking over as Personnel Director.

Supervisory Board member Dr. Bernd W. Voss stepped down effective December 31, 2014. He was succeeded by Dr. Andreas Biagosch, who was appointed to the Supervisory Board by court order effective January 26, 2015.

Declaration on Corporate Management

The declaration on corporate management required by Section 289a of the German Commercial Code is included in the corporate governance report. This declaration forms part of the combined management report and is also available online. It contains the Executive and Supervisory Boards’ work procedures, the declaration of conformity pursuant to Section 161 of the German Stock Corporation Act (AktG), and information on key corporate management practices. www.wacker.com/corporate governance

Executive and Supervisory Board Compensation

Executive Board compensation contains both fixed and variable components. The main features of the compensation system for the Executive Board and Supervisory Board are described in the compensation report contained in the corporate governance report. The compensation report is also part of the combined management report.