General Partners’ Meeting:
The General Partners’ Meeting is comparable to the Annual Meeting of a stock corporation (Aktiengesellschaft). It receives the reports of the other bodies, elects the members of the Family Board, decides on changes in ownership structures in Merck KGaA, Darmstadt, Germany, capital increases and contract amendments.
The Family Board defines the basic strategic direction of the companies in their entirety and actively represents the entrepreneurial interests of the Merck family. Its members are elected by the General Partners’ Meeting and are members of the Merck family.
Board of Partners of E. Merck KG:
The Board of Partners
is elected by the Family Board and is comparable to the Supervisory Board of a stock corporation (Aktiengesellschaft). It decides on the appointment and dismissal of Members of the Executive Board of Merck KGaA, Darmstadt, Germany. It monitors the Executive Board of the KGaA, approves significant transactions, particularly major capital investments and adopts the annual financial statements of E. Merck KG. Apart from five members of the Family Board, four external business leaders are members of the Board of Partners.
The Executive Board
is responsible for the management of the E. Merck Group. It manages the business of E. Merck KG and represents it vis-à-vis third parties. It coordinates the work of the bodies of E. Merck KG. Furthermore, it executes resolutions passed by the Board of Partners and the Family Board and performs their duties in respect of Merck KGaA, Darmstadt, Germany. The Executive Board comprises the Chairmen of the Family Board and the Board of Partners, the Chairman of the Executive Board of Merck KGaA, Darmstadt, Germany, and the Chief Financial Director as well as elected members.