Corporate Governance
The German Corporate Governance Code is intended to provide national and international investors with a transparent view of the rules applying in Germany to the management and supervision of companies in order to foster trust in the corporate governance of German corporations.
The German Corporate Governance Code adopted in February 2002, in the current version of 14 June 2007, contains recommendations and suggestions for managing and supervising listed companies in Germany with regard to shareholders and the general shareholders' meeting, the Management Board, the Supervisory Board, and to transparency, accounting policies and auditing. There is no obligation to comply with the recommendations and suggestions of the Code. The German Stock Corporation Act merely requires the Management Board and Supervisory Board of a listed company to make an annual declaration as to which recommendations were not or are not being implemented. However, it is possible to depart from the suggestions contained in the Code without disclosure.
POLIS identifies with the recommendations of the German Corporate Governance Code. We view the Code as a means to foster responsible and transparent corporate management and control, oriented to a sustained increase in company value. We commit ourselves to ethical, transparent and responsible behaviour vis a vis shareholders, business partners, employees and the public.
In February 2008, the Management Board and Supervisory Board of POLIS issued a declaration regarding the German Corporate Governance Code. In 2007, POLIS complied almost entirely with the recommendations of the Code.
