Role of the Board of Management

The Board of Management is responsible for the management and the successful realization of the long term strategy of Draka Holding and its operating companies. Board of Management members are appointed by the General Meeting, from among candidates nominated by the Supervisory Board. The General Meeting may suspend or dismiss Board of Management members at any time. A resolution to dismiss a Board of Management member, not following the proposal of the Supervisory Board, can only be carried out by an absolute majority of the cast votes by a quorum of shareholders representing more than one third of the capital in issue.

In the event of a conflict of interest between Draka Holding and a member of the Board of Management, Draka Holding will be represented either by a member of the Board of Management or of the Supervisory Board to be designated by the Supervisory Board.

In 2007, the composition of the Board of Management has substantially changed. Christian Raskin, Chief Strategy Officer, retired and stepped down from the Board of Management on 31 August 2007. Ingolf Schulz was Chairman and Chief Executive Officer until 30 September 2007 and stepped down from the Board of Management as per 31 December 2007. After his appointment to the Board of Management, on 1 September 2007, Sandy Lyons has served Chairman and Chief Executive Officer of the Board of Management since 1 October 2007.