Company Statutory Bodies and Senior Management

The Annual General Meeting of Shareholders (AGM) is the Company’s supreme governing body. In compliance with the Company’s Articles of Incorporation, the AGM elects members to and removes them from the Supervisory Board (except for those members who are elected by Company employees), elects members to and removes them from the Board of Directors and makes decisions on the Company’s business activities and the distribution of profits.

The Supervisory Board consists of six members, two of whom are nominated for election to the Board by Company employees. The Supervisory Board is particularly responsible for overseeing the decisions of the Board of Directors and the Company’s general business performance.

The Board of Directors is responsible for the day-to-day management of the Company and acts on its behalf. The Board is responsible for the Company’s commercial and business management, exercises employer rights, convenes General Meetings of Shareholders and regularly provides information on its activities to the Supervisory Board. The competence and responsibilities of the Board of Directors are fully defined in the Company’s Articles of Incorporation approved by the General Meeting of Shareholders and deposited in the Document Collection of the Commercial Register at the Municipal Court in Prague.