On 26 February 2002, the German Corporate Governance Code (GCGC) was delivered to the Federal Minister of Justice. The Code, which was developed by a governmental commission under the leadership of ThyssenKrupp AG Supervisory Board Chair Dr Gerhard Cromme, applies to all publicly-listed companies in Germany. According to the new version of § 161 AktG, following revisions required by the Transparency and Publicity Law of 19/07/2002, the executive committees and supervisory boards of these companies are required to declare annually that they have complied with and will continue to comply with the rules of conduct contained in the Code, or to explain which codes of behaviour do or did not apply, and why. The objective of the German Corporate Governance Code is "to make the rules for corporate management and monitoring in Germany transparent for national as well as international investors, in order to strengthen trust in the corporate management of German companies" (Governmental Commission on the German Corporate Governance Code).
Further information, as well as the complete German Corporate Governance Code in its current version, is available at the Internet site of the Governmental Commission on the German Corporate Governance Code.