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Hajo Riesenbeck elected Chairman of the Supervisory Board of GfK AG

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Nuremberg, 16 December 2004 - At today’s 55th meeting of the
Supervisory Board, Peter Zühlsdorff officially resigned as
Supervisory Board Chairman at his own request, having previously
announced this decision internally. Hajo Riesenbeck was unanimously
elected as his successor and will take up office immediately. Dr.
Arno Mahlert was appointed as Deputy Chairman of the Supervisory
Board. At the same meeting, the Supervisory Board nominated Peter
Zühlsdorff as its Honorary Chairman.
Peter Zühlsdorff, 63, Managing Partner of Deutsche Industrieholding
and former Chairman of the Management Board of Wella AG, became a
member of the Advisory Board of GfK GmbH in 1987 and following its
transformation into joint stock company in 1989, a member of the
Supervisory Board and, since 1992, its chairman. In the almost 13
years of his chairmanship, GfK has developed from a German company to
a global market research group, which is now the No. 5 in the sector
worldwide. The Group’s dynamic growth is reflected by an increase in
sales from approx. EUR 183 million in 1992 to an estimated EUR 660
million in 2004, with consolidated total income after minority
interests rising from EUR -5.1 million to a forecast EUR 50 million
in 2004. During his period of office, Peter Zühlsdorff successfully
promoted the GfK Group’s IPO, establishing the financial basis for
further corporate expansion. Zühlsdorff also initiated a continuous
rejuvenation of the Supervisory Board and sees his own resignation as
the culmination of this process. The Supervisory Board elected Peter
Zühlsdorff as its Honorary Chairman.
Zühlsdorff’s successor Hajo Riesenbeck, Director of McKinsey &
Company, Düsseldorf office, has been a member of the Supervisory
Board of GfK since 13 June 2002 and Deputy Chairman since 15 June
2004. After graduating in economics, he worked for Unilever. Hajo
Riesenbeck then joined corporate consultants McKinsey & Company in
1979, becoming a partner in 1985. He has held his present position
since 1991 and is also a member of the Management Committee of
McKinsey Germany. In addition, Hajo Riesenbeck shares the
Chairmanship of McKinsey’s European Marketing Group with a colleague
from Scandinavia.
As Supervisory Board Chairman, Riesenbeck will also head up the
Personnel Committee of the GfK Group. Dr. Arno Mahlert, Financial
Director of Tchibo AG, is the Chairman of the Finance Committee and
Dr. Wolfgang C. Berndt, former president of Procter & Gamble’s global
Fabric and Home Care division, is the Chairman of the Mergers &
Acquisitions Committee.
Resolution on separate reporting of remuneration for the Management
Board and Supervisory Board
In the last meeting of this year, the Supervisory Board discussed in
detail the topic of Corporate Governance and the German Investor
Protection Act (AnSVG). The Management Board and Supervisory Board
resolved to include a separate breakdown of the remuneration of the
Management Board and Supervisory Board in future annual reports. This
will apply from Annual Report for 2004.
From 2005, GfK will therefore be complying with 87 of the 91
recommendations of the German Corporate Governance Code. This
includes the commitment to continue shortening the publication
periods for annual and interim reports. GfK will meet this
recommendation for interim reports in 2005 by publishing these within
45 days of the quarterly accounts. Taking a step closer to the
recommendation for publication of the annual report 90 days after the
year-end accounts, the GfK Annual Report for 2005 will be published
within 101 days.
For further information, visit our website: www.gfk.com
end of announcement                    euro adhoc 16.12.2004 16:56:03 

Further inquiry note:

Bernhard Wolf
Tel.: +49 (0) 911 395 2012
E-Mail: bernhard.wolf@gfk.de

Branche: Market research
ISIN: DE0005875306
WKN: 587530
Index: SDAX, Prime Standard, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / official dealing

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