This is where the DAX gets together

There is a dense network between the DAX supervisory boards, which leads to dependencies and hinders independent control. When the supervisory boards of BMW or Deutsche Lufthansa meet, representatives of one third of all DAX companies sit at the table. Representatives of Allianz and Henkel are even present at every third supervisory board meeting of all DAX companies.

The gender quota for supervisory boards introduced in 2016 is beginning to take effect. It forces companies to elect more women to their supervisory committees. Nevertheless, the quota is currently only met by slightly more than half of the DAX corporations.

German supervisory boards are very busy and this is not only for their mandate. The average DAX supervisory board member is a full-time member of an executive board and holds three mandates. The high level of activity raises doubts as to whether they can adequately fulfil their monitoring function.

Please note: This study is available in German only.