Corporate Governance Code

In February 2002, the government commission appointed by the German Federal Justice Ministry unveiled the German Corporate Governance Code. This Code comprises key statutory regulations governing the management and supervision of listed German companies and complies with international and national standards concerning responsible and value-oriented corporate governance.

The Corporate Governance Code comprises three different types of regulations:

  • Binding statutory regulations
  • Recommendations
  • Suggestions

The statutory provisions are binding and are therefore outside the scope of this declaration of conformity. The recommendations are covered by the declaration. However, companies are obliged to disclose any non-compliance with these. There is no obligation to disclose any deviations from suggestions.