The term ‘corporate governance’ refers to the overall management and supervisory system of a company.
This includes its organization, the principles and guidelines behind its business policies, and its internal and external steering and monitoring mechanisms.
Corporate governance is intended to ensure the responsible management and supervision of companies with the aim of generating sustainable value creation. It bolsters the confidence placed in the company by domestic and foreign investors, business partners, the general public and not least its employees.
The essential requirements for good governance are the close, efficient cooperation between the Management Board and the Supervisory Board, respect for shareholders' interests, openness and transparency in corporate communication, and the responsible handling of risks as well as of statutory and internal rules and regulations.