The Government Commission on the German Corporate Governance Code (Regierungskommission deutscher Corporate Governance Kodex) appointed by the Federal Minister of Justice (Bundesministerin für Justiz) in September 2001 adopted the German Corporate Governance Code (“Code”) on 26 February 2002 and, most recently, adopted various amendments to the Corporate Code on 26 May 2010.
The Code provides recommendations and suggestions on managing and supervising listed German companies. In doing so, it is based on recognised international and national standards for good and responsible corporate governance.
The purpose of the Code is to make the German corporate governance system transparent and comprehensible. The Code contains recommendations and suggestions on corporate governance with respect to shareholders and the general shareholders’ meeting, the Management Board, the Supervisory Board, transparency, accounting and auditing.