Report
Expert Corporate Governance Service (ECGS)
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Infineon - February 21, 2019

Item 4: We recommend to oppose the discharge of the Supervisory Board due to the insufficient attendance of three Supervisory Board members in financial year 2017/2018 as well as due to our concerns that contrary to local and international best practice, the Chairman of the Supervisory Board also acts as the Chairman of the Audit Committee.


Item 5: KPMG, Munich, is proposed as auditor for the current financial year. While we have no concerns over the ratio of non-audit/audit fees, we note that KPMG has audited the Company since the financial year 1999 which exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of KPMG as auditor

Underlying
Infineon Technologies AG

Infineon Technologies is a semiconductor manufacturing company. The Automotive segment designs, develops, manufactures and markets semiconductors for use in automotive applications. The Industrial Power Control segment designs, develops, manufactures and markets semiconductors for the generation, transmission and economy in the use of electrical energy. The Power Management & Multimarket segment designs, develops, manufactures and markets semiconductors for power supplies, mobile devices and mobile phone network infrastructures. The Chip Card & Security segment designs, develops, manufactures and markets semiconductor-based security products for card applications and networked systems.

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Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

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Analysts
Expert Corporate Governance Service (ECGS)

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