Krones to clear the way for a quick return to the DAX index family

The reason for Deutsche Börse’s decision is that Krones no longer meets a basic criterion for index membership. This relates to a partial departure from Recommendation C.10 of the German Corporate Governance Code. Among other things, this requires the chairperson of a company’s audit committee to be independent of the company and the executive board. Krones ceased to comply with the recommendation on 23 May 2023. On that day, Norbert Broger was elected as chairman of the Audit and Risk Management Committee. As Norbert Broger was CFO of Krones AG until 31 December 2022, it was decided, as a precautionary measure, that he should be classified as not being independent of the company within the meaning of the German Corporate Governance Code.