Proposed amendments to Code 2017 published

On 7 February 2017, the Regierungskommission Deutscher Corporate Governance Kodex decided on amendments to the Code in order to enhance transparency as the basis for stakeholders to assess corporate governance and to comply with international best practices in the German code for listed companies. In addition, the Regierungskommission amended  the Preamble of the Code. The new version of the Code will come into force upon publication in the electronic German Federal Gazette by the German Federal Ministry of Justice and Consumer Protection.

Rolf Nonnenmacher will chair the Regierungskommission Deutscher Corporate Governance Kodex with effect from 1 March 2017.

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Journal article from Dr. Manfred Gentz

Please find below the journal article „Kodexänderungsvorschläge 2017 – Transparenz für fundierte Meinungsbildung“ from Dr. Manfred Gentz, Chairman of the German Corporate Governance Code Commission, published in WPg 24.2016, S. 1329.

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Proposed amendments to Code for 2017 published

Invitation to send written comments on the proposed amendments and remarks until 1 April 2015. Comments on the proposals which are submitted on time will be considered during final deliberation by the Commission in May 2015.

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Common Statement By The Five Chairmen Group

Read below more about the common statement by the group of five Chairmen of the governing bodies of the Corporate Governance Codes in France, Germany, Italy, the Netherlands and the UK met on Friday 24th 2016 in Venice to establish a forum for dialogue about the role of Corporate Governance Codes

160701 Common Statement By The Five Charimen Group EN(184.0 KiB)

15th German Corporate Governance Code Conference

Please find below the press release regarding the 15th Conference.

160622 DCGK PM Konferenz en(461.4 KiB)

A new member appointed to the Regierungskommission

Following the recommendation of the Regierungskommission Deutscher Corporate Governance Kodex, the German Federal Minister of Justice and for Consumer Protection, Heiko Maas, has appointed Prof. Dr. Rolf Nonnenmacher, member of the Supervisory Boards and chairman of the Audit Committees of Continental AG, Covestro AG and ProSiebenSat.1 Media SE, as member of the Commission of the German Corporate Code with effect from 20 June 2016. In accordance with the rules of internal procedures of the Code Commission, in force since 2014, the appointment endures for four years.

160621 DCGK PM Mitglieder EN(321.6 KiB)

Five members appointed to the Regierungskommission

Following the recommendation of the Regierungskommission Deutscher Corporate Governance Kodex, the German Federal Minister of Justice and for Consumer Protection, Heiko Maas, has appointed Michael Guggemos, Spokesman of the Management of Hans-Böckler-Stiftung, Dr Margarete Haase, Member of the Board of Deutz AG as well as Prof Dr Wulf von Schimmelmann, Chairman of the Supervisory Board of Deutsche Post AG, as members of the Commission of the German Corporate Code with effect from 1 February 2016. In addition, both Claudia Kruse, Member of the Extended Management of the Dutch APG Asset Management, and Jens Wilhelm, Member of the Board of Union Asset Management Holding AG, have been appointed to the Code Commission as of 1 March 2016. In accordance with the rules of internal procedures of the Code Commission, in force since 2014, the appointment endures for four years.

16-01-25 DCGK PM Ernennung neuer Mitglieder final EN(292.9 KiB)

14th German Corporate Governance Code Conference

Please find below the press release regarding the 14th Conference.

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Proposed amendments to Code for 2015 published

Invitation to send written comments on the proposed amendments and remarks until 1 April 2015. Comments on the proposals which are submitted on time will be considered during final deliberation by the Commission in May 2015.

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Position on the draft OECD Corporate Governance principles

The Regierungskommission Deutscher Corporate Governance Kodex requests the OECD to take into account to a greater extend the characteristics of dualistic corporate governance systems, consisting of management and supervisory boards, like in Germany.

2015-01 Position CG Commission OECD Principles(423.9 KiB)

Government Commission clarifies Code-model tables for Management Board Members' remuneration

The clarified explanations also specify where and how deferrals, i.e. components from one-year variable compensation, which are deferred and not paid out immediately, are to be recorded in the model tables. In addition, the disclosure time of the one-year and multi-year variable compensation received has been harmonised. Third party benefits which have already been taken into account in Number 4.2.3 DCGK are to be specified explicitly insofar as they are connected to Management Board work.

PR Code clarification 140930(386.7 KiB)

Press Release "Fewer new recommendations, more explanations and comments"

Press release on the occasion of the 13th German Corporate Governance Code conference:

  • Containment of undesirable regulatory developments in the Corporate Governance Code
  • No changes to the 2014 Code
  • Commission in dialogue with proxy advisors
  • Rules of procedure providing improved transparency in the commission's work

Press Release 2014-06-25(307.7 KiB)

13th German Corporate Governance Code Conference

24 and 25 June 2014 at the Berlin Representative Office of Deutsche Telekom AG. This event is by invitation only. Conference language is German.

CGK 13004 KB Programm 140506(126.1 KiB)

The amendments to the German Corporate Governance Code resolved by the Government Commission on June 12, 2006, have been published today in the electronic Federal Gazette (Bundesanzeiger) (German only) by the Federal Ministry of Justice. Please find the amended version and an overview of the code amendments on this website.

Amendments to the German Corporate Governance Code

The amendments to the German Corporate Governance Code resolved by the Government Commission on June 12, 2006, have been published today in the electronic Federal Gazette (Bundesanzeiger) (German only) by the Federal Ministry of Justice. Please find the amended version and an overview of the code amendments on this website.

The amendments to the German Corporate Governance Code resolved by the Government Commission on June 02 have been published yesterday in the electronic Federal Gazette (Bundesanzeiger) (German only) (adjustment dated July 21,2005) (German only) by the Federal Ministry of Justice (see press release of the Federal Ministry) (German only). Please find the amended version and an overview of the code amendments on this website.

Press release on the bill announced by Federal Minister Zypries on the disclosure of management board compensation

11 03 2005 14 Uhr PM Zypries EN(26.4 KiB)

The Berlin Center of Corporate Governance (BCCG) has today published the Executive Summary of its latest survey concerning the implementation of the German Corporate Governance Code (as of May 21, 2004). Download under www.bccg.tu-berlin.de/main/publikationen.htm.

Press Release

A plenary meeting of the Government Commission on the German Corporate Governance Code was held on June 8, 2004. After detailed discussion, the Commission decided unanimously not to adjust the Code at the present time in view of the forthcoming changes to legislation in Germany and at EU level.

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The amendments to the German Corporate governance Code resolved by the Government Commission on May 21 have been published today in the electronic Federal Gazette (Bundesanzeiger) by the Federal Ministry of Justice. Please find the amended version and an overview of the code amendments on this website.

The 2. German Corporate Governance Code-Conference took place in Berlin, June 25/26, 2003. More detailed information, the program of the conference and selected presentations (Video on Demand) are available on the Handelsblatt-website.

Press release of the Federal Ministry of Justice

"Wichtige Hinweise zur Umsetzung der Beschlüsse der Cromme-Kommission".

Mitteilung BMJ vom 10 06 2003(93.3 KiB)

Press Release

The Government Commission met in plenary session on May 21, 2003. The European Commission will shortly be publishing its action plan for modernizing company law and improving corporate governance in the EU.

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The Berlin Center of Corporate Governance (BCCG) has today published the Executive Summary of its survey concerning the implementation of the German Corporate Governance Code. Download under http://www.bccg.tu-berlin.de/

Press Release

A plenary meeting of the Government Commission was convened on November 7, 2002 to review the German Corporate Governance Code against the background of national, European and international developments and taking into consideration the status of the public discussion.

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Press release

Code gets German companies into shape for international financial markets Clear standards for transparency and confidence in German corporations

The members of the commission are listed in the appendix (Word, 20,5 KB) to this press release.

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Remarks by Dr. Gerhard Cromme

Chairman of the Government Commission on the German Corporate Governance Code at the press conference following the handing over of the German Corporate Governance Code to German Minister of Justice Prof. Dr. Herta Däubler-Gmelin on February 26, 2002 in Berlin

RedeDrCromme-Uebergabe-en(63.8 KiB)

Remarks by Dr. Gerhard Cromme

Chairman of the Goverment Commission German Corporate Governance Code on the publication of the draft German Corporate Governance Code December 18, 2001 in Düsseldorf

RedeDrCromme e(110.2 KiB)