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Germany

InfraGO supervisory board will not have veto right

The supervisory board of the newly founded German public welfare-oriented infrastructure company DB InfraGO will not be given the right to veto instructions from the DB Group. This was the result of a question from the CDU parliamentary group to the Federal Railways Commissioner Michael Theurer. Instructions from the DB Group board are addressed directly to the board of DB InfraGO, not to the supervisory board. Thus, the supervisory board is not in a position to reject instructions. However, the supervisory board of German state railway DB as the parent company is to be granted a reservation of consent for instructions and shareholder action by DB with regard to InfraGO. The exact details and timing of the implementation of this regulation are not yet known.