Article 18 — Chairperson of the Management Board

1. The Management Board shall elect a Chairperson and a Deputy Chairperson from among its members with voting rights. The Chairperson and the Deputy Chairperson shall be elected by a two-thirds majority of the members of the Management Board with voting rights. 2. The Deputy Chairperson shall automatically take the place of the Chairperson if the Chairperson is prevented from attending to his or her duties. 3. The term of office of the Chairperson and of the Deputy Chairperson shall be four years, renewable once. If, however, the Chairperson’s or the Deputy Chairperson’s membership of the Management Board ends at any time during his or her term of office, his or her term of office shall automatically expire on that date.