Federal Minister of Justice Dr Marco Buschmann will appoint two new members to the Government Commission for the German Corporate Governance Code (GCGC): Dr Nicolas Peter, the current Chief Financial Officer of BMW AG (effective 1 May 2023), and Dr Jens Weidmann, who stands to be elected Chairman of the Supervisory Board of Commerzbank AG in May 2023 (effective 1 June 2023).  

For more information please see the translation of press release of 21st April 2023.

230421 Press Release

Clara Christina Streit will take over as chair of the Government Commission on the German Corporate Governance Code (GCGC) on March 1, 2023.

For more information please see the translation of press release of 15th December 2022.

221215 Press Release

Following an extensive consultation process and thorough consideration by the Regierungskommission Deutscher Corporate Governance Kodex, the amended Code has been submitted to the Federal Ministry of Justice for review and has been published in advance on the website of the Government Commission (www.dcgk.de). Environmental and social sustainability shall be taken into account in the management and supervision of listed companies. In addition, the Financial Market Integrity Strengthening Act (FISG) and the Second Leadership Positions Act (FüPoG II) require further adjustments to the German Corporate Governance Code (GCGC).

220517 Press Release

Dr. Michael Kemmer has been appointed to the Commission as of 1 February 2021. He succeeds Prof. Dr. Wulf von Schimmelmann, who will leave the Commission at the end of February.

210203 Press release (german)

With the publication in the Federal Gazette on 20 March 2020, the new Code in the version of 16 December 2019 will form the basis for future Declarations of Compliance.

The Commission – headed by Rolf Nonnenmacher – is re-organising itself following reform of the German Corporate Governance Code. With effect from 1 April 2020, Dr Werner Brandt, Chairman of the Supervisory Board of RWE AG, Dr Daniela Favoccia, partner at Hengeler Mueller, Dr Bettina Orlopp, member of the Board of Managing Directors of Commerzbank AG, Dr Ariane Reinhart, Management Board member of Continental AG, Helene von Roeder, Management Board member of Vonovia SE and Reiner Winkler, Chief Executive Officer of MTU Aero Engines AG are appointed to the Commission.

200320 Press release

Below you will find the speech "On the progress of corporate governance in Germany" by the Chairman of the Government Commission, Prof. Dr. Rolf Nonnenmacher. Further information about the conference can be found in the press release.

On 6 November 2018 the Comission has published the draft of a revised Code and invites you to take part in a consultation process. Click here for further information.

With the publication dated 19 May 2017, the Federal Gazette has corrected its transfer error in the explanatory footnotes of the sample tables in the annex of the Code.

According to the Federal Ministry of Justice and Consumer Protection, the announcement date of the current code is still the 24 April 2017 because there were only editorial adaptation.

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.

Within the context of its regular review of the Code, the Commission is this year again following the principle of deleting content that is no longer necessary, providing clarification where sensible, incorporating legislative amendments made in the interim period, and exercising major restraint in terms of material changes.

Everyone is invited to send written comments on the proposed amendments and remarks until 15 December 2016. Comments received on time will be considered during the final consultancy of the Commission in February 2017.

For the first time, all statements tendered by companies, associations and from the field of science will be published on the Regierungskommission’s website, unless participants object to a publication. Please mention it expressly, if you do not wish your comment to be published.

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

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.

You will find the current version under the section "Code".

Within the context of its regular review of the Code, the Commission is this year again following the principle of deleting content that is no longer necessary, providing clarification where sensible, incorporating legislative amendments made in the interim period, and exercising major restraint in terms of material changes. The Commission proposes for example that the Supervisory Board shall in future inform candidates for election to the Supervisory Board of the time commitment expected for qualified discharge of the mandate. The Commission also intends to recommend that the Supervisory Board of a listed company shall define the maximum period of office on this body on a company-specific basis.

Please, 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.

150203 Proposed Amendments GCGC 2015

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.

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

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 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.

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.

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

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/

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