Page 20 - Hoftex Annual Report 2018 EN

Letter to Shareholders Supervisory Board Report
Group Management Report Consolidated Financial Statements Annexes
Guidelines on promoting the participation of women in leadership positions pursuant to Sections 76(4), 111(5) AktG
The Management Board and Supervisory Board have defined target gender quotas pursuant to the “Law on Equal Participation of Women and Men in Leadership Positions in the Private and Public Sector”. The Supervisory Board’s target for the gender quota of the two-person Management Board is still 0 %. The Supervisory Board resolved to appoint at least two women members by 31 December 2021. There are currently four women on the Supervisory Board, Renate Dempfle and Melanie Liebert representing the shareholders and Johanna Falasa and Carmen Teismann representing the employees. The Management Board of the HOFTEX GROUP AG has set a target of 20 % for the top management level below the Management Board on or before 31 December 2021. The gender quota for the top management level is currently 40 % women. No target has been set for the second management level, as HOFTEX GROUP AG in its role as a holding company has a flat hierarchy; there is therefore no continuous second management level.
The Hoftex Group is faced with numerous risks every day as part of the commercial undertakings of the individual business sectors and, consequently, the subsidiaries or that arise due to external in- fluences. At the same time it is important for HOFTEX GROUP AG to identify opportunities for the company and to use these to achieve the company’s targets and increase the competitiveness of HOFTEX GROUP AG and its subsidiaries.
3. StatementonCorporateGovernancepursuanttoSection289f(4)ofthe German Commercial Code for the 2018 fiscal year
It is the management's responsibility to identify any risks at an early stage and implement suitable measures to address them. The Hoftex Group established a corresponding risk management system to enable this.
The matrix below shows the risks and opportunities of the Hoftex Group:
• Sitesandcountries • Production
• Competition • Purchasingandlogistics
• Price • Personnel
• Markettrendsandsales • Projectmanagement
• Procurementmarket • Researchanddevelopment
• Currenciesandinterest • Regulationsandlaws
• Receivables • Environment
• Liquidity • Codeofconduct
• Inventorywrite-downs • Informationsecurityanddataprotection
4. Risk and opportunity report
• Sales
• Informationmanagement
• Taxlaw
• Capitalmarkets
Strategic risks and market risks Operating risks
Financial risks
Compliance risks
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