Code

The German Corporate Governance Code (GCGC) was presented to the German Federal Minister of Justice on February 26, 2002. The Code, which was drafted by a Government Commission chaired by the Chairman of the Supervisory Board of ThyssenKrupp AG, Dr. Gerhard Cromme, is aimed at all listed companies in Germany.

Pursuant to Section 161 of the German Stock Corporation Act in the version amended by the Transparency and Disclosure Act of July 19, 2002, the management boards and supervisory boards of these companies are required to make an annual declaration confirming that they have conformed to the Code and will continue to do so in the future and additionally state which of the rules are not applied.

The aim of the German Corporate Governance Code is to “make the corporate governance rules applicable in Germany transparent for national and international investors in order to enhance confidence in the corporate governance of German companies.” (Government Commission for the German Corporate Governance Code)

More information as well as the full wording of the applicable version of the German Corporate Governance Code is available on the web site of the Government Commission for the German Corporate Governance Code.