The Management Board of HSH Nordbank is composed of five members whose duties are divided by CEO, CFO, CRO, Corporates & Markets as well as Shipping, Project and Real Estate Finance. When selecting new Management Board members, the Supervisory Board is bound by the pertinent legal requirements. Here, too, diversity plays an important role. In accordance with the quota law, the Supervisory Board adopted a target of having a 20% proportion of women on the Management Board of HSH Nordbank, which is, if possible, to be achieved by 30 June 2017. The German Corporate Governance Code also requires an adequate proportion of women, while the Banking Act stipulates that the balance and diversity of the knowledge, abilities and experience of all Management Board members be taken into consideration. The Rules of Procedure for the Supervisory Board likewise contain requirements that the Supervisory Board and the General / Nominating Committee must take into consideration when assessing applicants for appointment to a position on the Management Board. In each individual case – as in the previous year specifically when making a new appointment to the position of CRO – of a Management Board position to be filled, the Supervisory Board therefore selects Management Board members on consideration of the requirements of the respective position as well as the expertise already available on the Management Board on the basis of an individual job profile.