German Corporate Governance Code, 2015

Germany Upcoming 2015

The Code clarifies the obligation of the Management Board and the Supervisory Board (dual board system required by law) to ensure the continued existence of the enterprise and its sustainable creation of value in conformity with the principles of the social market economy. Any deviations from the recommendations should be explained. It requires the annual report to include a Management Report and Corporate Governance Report with, among others, information on compensation, remuneration, as well as stock option programmes and similar securities-based incentive systems of the company (section 7.1.3).



Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

All listed companies

Type of instrument

Code of conduct or guideline

Mandatory or voluntary


The geographical scope


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