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Corporate Governance
First Sensor AG welcomes the German Corporate Governance Codex which is presented and regularly updated by the Government Commission.

Declaration of Compliance


Declaration by the Executive Board and the Supervisory Board of First Sensor AG on the recommendations of the Government Commission German Corporate Governance Code pursuant to Article 161 Aktiengesetz (German Stock Corporation Act)


The Executive Board and Supervisory Board of First Sensor AG hereby declare in accordance with Section 161 of the German Stock Corporation Act (AktG) that, since the last declaration of compliance was issued on August 11, 2020, the company has complied with the recommendations of the German Corporate Governance Code in the version as of December 16, 2019 ("GCGC")and will continue to comply with the recommendations of the GCGC with the exception of the deviations set out below.

A.1: Diversity in staffing of management positions

Appropriate internal company guidelines ensure that management positions are staffed without discrimination. When staffing management positions, however, no specific attention is paid to diversity.

B.1: Diversity in the constitution of the Executive Board 

With regard to the constitution of the Executive Board, the Supervisory Board pays attention to diversity in addition to the relevant professional qualifications. In the medium and long term, the Supervisory Board aims to appoint a woman to the Executive Board of the Company. In order to avoid setting a target which the Supervisory Board does not consider realistic and not in the Company's interest to achieve with the means at its disposal, the Supervisory Board has nevertheless limited itself to a target figure of 0 percent, which corresponds to the current status quo.

B.5: Age restriction for members of the Management Board

The service agreements of the members of the Executive Board did not originally provide for an age limit. The Supervisory Board corrected this in December 2020 in agreement with the Executive Board.

C.1: Constitution of the Supervisory Board

The Supervisory Board has set concrete goals for its constitution and developed a competence profile for the entire Board. However, no specific attention is paid to diversity in the constitution of the Supervisory Board.

F.2: The consolidated financial statements and the Group management report are to be publicly accessible within 90 days of the end of the financial year, and the mandatory interim financial information is to be publicly accessible within 45 days of the end of the reporting period.

The 2020 consolidated financial statements will be published within four months of the end of the fiscal year due to the ongoing integration work. In accordance with the Stock Exchange Rules and the German Securities Trading Act (WpHG), the half-year financial report will be made available no later than two months after the end of the reporting period.

G.I: Remuneration of the Executive Board 

Section G.I. of the GCGC contains new recommendations on the remuneration of the Executive Board. The following of these recommendations do not fully comply with the remuneration system for the Executive Board approved by the Annual General Meeting of First Sensor AG on May 23, 2018: G.1 (determination of the remuneration system), G.3 (peer group of other companies), G.6 (relationship between short-term and long-term targets), G.10 (investment of remuneration components in shares), G.11 (possibility of withholding and reclaiming variable remuneration components), and G13 (determination of a severance cap and offsetting of severance payment against compensation for non-compliance). The Supervisory Board and the Executive Board will therefore propose to the Annual General Meeting, which will decide on the 2020 financial year, that the remuneration system be amended and adjusted in line with the amended recommendations of the GCGC.

G.13: Severance payment cap and offset against compensation for non-compete obligations

The service agreement with Mr. Resch concluded at the beginning of 2020 was concluded on the basis of the remuneration system for the Executive Board approved by the Annual General Meeting of First Sensor AG on May 23, 2018, and therefore does not fully comply with the recommendations of the GCGC: G.10 (investment of remuneration components in shares) and G.13 (offsetting of severance payment against compensation for non-compete obligations). The new remuneration system to be adopted will be taken into account in the next service agreement.  

Berlin, February 1, 2021

2021-02-01 Declaration of Compliance 2021 (PDF)
2020-08-11 Declaration of Compliance 2020 (PDF)
2020-07-07 Declaration of Compliance 2020 (PDF)
2019-12-03 Declaration of Compliance 2019 (PDF)
2019-03-12 Declaration of Compliance 2019 (PDF)
2018-03-15 Declaration of Compliance 2018 (PDF)
2017-03-16 Declaration of Compliance 2017 (PDF)
2016-07-08 Declaration of Compliance 2016 Update (PDF)
2016-03-21 Declaration of Compliance 2016 (PDF)

Declarations of compliance from previous years are only available in German. Please click here to go to the German page.

Company
First Sensor is one of the world's leading suppliers in the field of sensor systems and part of TE Connectivity. In the growth market of sensor systems, First Sensor develops and produces customer-specific solutions for the ever-increasing number of applications in the industrial, medical, and mobility target markets. Our goal here is to identify, meet and solve the challenges of the future with our innovative sensor solutions early on.
Investor Relations
Our investor relations activities aim at raising the international publicity of First Sensor AG and at consolidating and extending the perception of our share as an attractive growth stock. This means we keep our online communication transparent, comprehensive and continuous in order to enhance your trust in our share.
Tailored Solutions
In the growth market of sensor systems, First Sensor develops and produces customer-specific sensors, electronics, modules and complex systems for the ever-increasing number of applications in the industrial, medical, and mobility target markets. As a solution provider the company offers complete development services from a first draft and proof of concept up to the development of prototypes and finally serial production. First Sensor offers comprehensive development expertise, state-of-the-art packaging technologies and production capacities in clean rooms from ISO class 8 to 5.
Competencies
In the growth market of sensor systems, First Sensor develops and produces customer-specific sensors, electronics, modules and complex systems for the ever-increasing number of applications in the industrial, medical, and mobility target markets. As a solution provider the company offers complete development services from a first draft and proof of concept up to the development of prototypes and finally serial production. First Sensor offers comprehensive development expertise, state-of-the-art packaging technologies and production capacities in clean rooms from ISO class 8 to 5.
Career
Innovation, excellence, proximity – these are our values, our ambition, our drive. Anything less is not an option. Our sensor solutions stand for technical innovation and economic growth. As such, they form the basis for the development and application of new technologies in almost all areas of life. We aim to shape this future together with you.

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