The Management Board of Deutsche Bahn AG
Since January 1, 2026, there has been a new Group structure as part of the the “restart” of DB Group. The change begins in the Management Board: instead of eight, there are now only six Board divisions – the Infrastructure and Digitalization and the Technology Board divisions have been dissolved and their tasks distributed to other divisions.
The Management Board consists of five members (As of 12/31/2025). The Chairman and CEO is Evelyn Palla.
Karin Dohm left Management Board of DB AG
(Berlin, March 26, 2026) This decision is expressly not based on the allegations or conjectures discussed in public, which the Supervisory Board has dealt with in detail.
Changes to the Supervisory Board and Management Board
The following changes were made to the Management Board of DB AG in 2025:
At its meeting on January 20, 2025, the Supervisory Board of DB AG reappointed Mr. Martin Seiler as a Management Board member of DB AG and Labor Director for the period from January 1, 2026 to December 31, 2030. Mr. Seiler will continue to be responsible for the Human Resources and Legal Affairs Board division.
At its meeting on May 6, 2025, the Supervisory Board of DB AG acknowledged the early termination of Dr. Levin Holle’s appointment due to his resignation with effect from the end of the same day. Dr. Holle stepped down from the Management Board at his own request in order to take up a senior position in the Federal Chancellery. At its meeting on October 30, 2025, the Supervisory Board resolved to appoint Ms. Karin Dohm as a member of the Management Board of DB AG with effect from December 1, 2025, and to assign her the
responsibility for the Finance Board division.
Cooperation between the Management Board and the Supervisory Board
As a German Aktiengesellschaft (joint stock corporation), DB AG is subject to a two-tier management and monitoring structure with a Management Board and a Supervisory Board. These two bodies are strictly separated both in terms of their membership and their competencies. The Management Board manages the company under its own joint responsibility. The Supervisory Board monitors the activities of the Management Board and is responsible for the appointment and dismissal of the Management Board members.
In the interests of the best possible company management, we attach great importance to the Management Board and Supervisory Board maintaining a continuous dialog with each other and working together efficiently and in an atmosphere of trust for the benefit of the company. The Management Board attends the meetings of the Supervisory Board to the extent deemed necessary by the Supervisory Board and informs the Supervisory Board regularly, promptly and comprehensively about all matters relevant to the company, in particular planning, business development, risk exposure and risk management, as well as the internal control system.
An overview of the Management Board and Supervisory Board members of DB AG, including the mandates they hold, can be found in the notes to the consolidated financial statements.
Remuneration report
The remuneration report describes the remuneration system and presents the individual remuneration of the Management Board and Supervisory Board members.
Remuneration system of the Management Board
The remuneration system for the Management Board of DB AG aims to provide appropriate remuneration to Management Board members in accordance with their duties and areas of responsibility.
The appropriate level of remuneration is reviewed regularly using a comparison process. This review examines the level of Management Board remuneration both in comparison to the external market (horizontal appropriateness) and in comparison to other levels of remuneration within the company (vertical appropriateness). If the review shows a need to adjust the remuneration system or the level of remuneration, the Personnel Committee of the Supervisory Board, which has equal representation of the stakeholders and shareholders involved through the shareholders and employee representatives on the committee, submits corresponding proposals in this regard to the Supervisory Board for resolution. A review of the appropriateness of the remuneration was most recently carried out in 2023. The results of the review were taken into account as part of a revised version of the Management Board remuneration methodology, which took effect from 2024.
Remuneration for the 2025 financial year: DB AG Management Board
The variable remuneration (STI) for the previous financial year is due at the end of the month in which the company’s Annual General Meeting takes place.
The Act on the Introduction of Price Brake on Electricity (Strompreisbremsegesetz; StromPBG) prohibits the payment of variable remuneration elements to the executive bodies of DB AG for the relief period (the year 2023). Accordingly, the results of the 2022 tranche of the LTI, which expired at the end of 2025, are reduced by the partial result for the 2023 financial year.
For their activities in 2025, the Management Board members of DB AG and the Chief Executive Officer and Chairman of the Management Board of DB InfraGO AG receive the following remuneration:
| Total remuneration of the Management Board / € thousand | Fixed remu-neration | Remuneration in connection with early termination of appointment | Variable remuneration | Other 3) | Total | |
|---|---|---|---|---|---|---|
| Short-term 1) | Long-term (payout of LTI 2022 to 2025) 2) | |||||
| Incumbent Management Board members of DB AG as of Dec 31, 2025 | ||||||
| Evelyn Palla | 887 | – | 232 | 48 | 1 | 1,168 |
| Karin Dohm | 58 | – | 18 | – | 0.2 | 76 |
| Bernhard Osburg | 88 | – | 26 | – | 5 | 119 |
| Dr. Michael Peterson | 778 | – | 92 | 48 | 20 | 938 |
| Martin Seiler | 855 | – | 227 | 135 | 7 | 1,224 |
| Harmen van Zijderveld | 117 | – | 35 | – | 2 | 153 |
| Total | 3,678 | |||||
| Management Board members of DB AG who stepped down in 2025 | ||||||
| Dr. Richard Lutz | 1,420 | 3,471 | 343 | 228 | 9 | 5,471 |
| Dr. Daniela Gerd tom Markotten | 855 | 2,866 | 200 | 96 | 18 | 4,035 |
| Dr. Levin Holle | 298 | – | 77 | 96 | 8 | 479 |
| Berthold Huber | 783 | 2,614 | 161 | 145 | 14 | 3,718 |
| Dr. Sigrid Nikutta | 855 | 2,380 | 241 | 96 | 15 | 3,587 |
| Total | 17,290 | |||||
| For information only | ||||||
| Incumbent Chief Executive Officer and Chairman of the Management Board of DB InfraGO AG on Dec 31, 2025 (neither incumbent nor former Management Board member of DB AG) | ||||||
| Dr. Philipp Nagl | 524 | – | 45 | 35 | 7 | 611 |
Individual figures are rounded and therefore may not add up.
1) Subject to the resolution of the Supervisory Board.
2) Subject to the resolution of the Supervisory Board. According to StromPBG without share for 2023.
3) Monetary benefits accruing from travel discounts and the use of company cars as well as insurance and housing allowances.
In 2025, no Management Board member of DB AG received benefits or corresponding commitments from a third party with regard to their activities as a Management Board member.