Report of the Chairman of the Board of Trustees
Ladies and Gentlemen,
2024 was marked by uncertainty, economic stagnation and geopolitical instability – with perceptible repercussions for the economy, society and political trust. Precisely because times like these call for a guiding hand, institutions that stand for reliability, orientation towards the common good and confidence in the future are growing in importance. The RAG‑Stiftung is such an institution. The Board of Trustees of the RAG‑Stiftung duly performed the duties incumbent upon it under the articles of association with great commitment in the 2024 financial year.
At its in-person meetings on 14 February, 3 May and 27 November 2024, the 13 members of the Board of Trustees discussed in depth the situation and the concerns of the foundation, including an audit notice from the Federal Audit Office. In the course of the year, the Board of Trustees adopted all the required resolutions, including on the consolidated and annual financial statements for 2023, approval of the economic plan for 2025 and the budget for education, science and culture for the financial years 2026 through 2028. The latter was able to be increased to EUR 35 million a year thanks to the RAG-Stiftung’s good overall situation. In addition to other resolutions, the Board of Trustees also approved a special budget of EUR 500,000 for flood relief in Saarland.
The Board of Executives of the foundation informed the Board of Trustees in detail about all current and relevant developments at the RAG-Stiftung in meetings as well as by means of quarterly reports. Focal aspects of the reporting were again the diversified investments, the continued progress of the assets and the development of the strategic holdings Evonik Industries AG, RAG Aktiengesellschaft, Vivawest GmbH and RSBG SE, as well as risk management. The Board of Executives also presented the record of success of the support projects in the areas of education, science and culture to the members of the Board of Trustees.
We welcomed one new ex officio member with effect from 7 November 2024, namely Federal Minister of Finance Dr. Jörg Kukies, who succeeded the former Federal Minister of Finance Christian Lindner.
The RAG-Stiftung bears responsibility – for former mining regions, for educational advancement, for innovativeness. This responsibility grows together with the challenges of our time. It is my conviction in this regard that the RAG-Stiftung will remain a reliable partner in the future.
Armin Laschet
Chairman of the Board of Trustees of the RAG-Stiftung