The Management Board of HSH Nordbank has consisted of four members since June 2016 and is split into the following areas of Board responsibility: CEO, CFO, CRO and front office. When selecting new Management Board members, the Supervisory Board must adhere to the relevant legal requirements. The issue of diversity plays a key role in this regard. Pursuant to the German Quota Act, the Supervisory Board has set a target of 20% female members for the Management Board of HSH Nordbank that is to be met, if possible, by 30 June 2017. The German Corporate Governance Code also requires, in particular, the appropriate representation of women, while the German Banking Act states that consideration should be given to ensuring balanced and varied knowledge, skills and experience for all Management Board members. The rules of procedure for the Supervisory Board also contain requirements that the Supervisory Board and/or the General/Nominating Committee has to take into account when identifying applicants to fill a Management Board position. This means that the Supervisory Board looks at the Management Board position to be filled on a case-by-case basis and selects Management Board members taking into account the requirements of the position in question and the competencies already represented on the Management Board based on an individual job profile.