Corporate Governance


The German Corporate Governance Code was published for the first time in 2002 and forms the foundation for responsible corporate governance and surveillance.

The Code provides recommendations and suggestions for the management and surveillance of listed German companies, and is oriented towards internationally and nationally recognized standards of good and responsible corporate governance.

The Management Board and the Supervisory Board support the basic regulations of good and responsible corporate governance as outlined in the code. The company implements the recommendations and suggestions of the code wherever these appear appropriate.



The Executive Board and the Supervisory Board issued the declaration of compliance with the recommendations of the Government Commission German Corporate Governance Code, pursuant to Section 161 of the German Stock Corporation Act, and made it permanently accessible to our shareholders on this website. Due to the change of our stock exchange listing to the Entry Standard segment of the Open Market in 2015 we do not disclose any longer the declaration by the management board and supervisory board on the German Corporate Governance Code pursuant to § 161 AktG.