Report of the Supervisory Board

Corporate Governance

During the year under review, the Management Board and Supervisory Board of DB AG again considered the further development of corporate governance. In a Cabinet decision on July 1, 2009, the Federal Government adopted the Public Cor­porate Governance Code (PCGK). The PCGK sets out the essen­tial provisions of applicable law governing the management and monitoring of non-­­listed companies in which the Federal Republic of Germany holds a majority stake, while outlining the internationally and nationally acknowledged principles of good and responsible corporate governance. The Supervisory Board of DB AG dealt with the application of the PCGK within DB Group and adopted the necessary resolutions.

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