The term “corporate governance” stands for responsible corporate management and control geared to long-term value creation. Efficient cooperation between Executive Board and Supervisory Board, respect for shareholder interests, openness and transparency of corporate communications are key aspects of good corporate governance.
At thyssenkrupp good corporate governance is an issue which embraces all areas of the Group. It promotes the trust of investors, financial markets, business partners, employees, and the general public in the management and oversight of the Company and is essential to the Company's sustainable success. The Executive Board and Supervisory Board regard it as their duty to secure the Company's continued existence and sustainable value creation through responsible corporate governance focused on the long term.
The Executive Board and Supervisory Board work closely together in the interest of the Company. An intensive, continuous dialogue between the two boards is the basis for efficient corporate management. We have enhanced and intensified this dialogue step by step and in accordance with national and international standards.
Corporate governance at thyssenkrupp is based on the German Corporate Governance Code (DCGK), as published by the DCGK Government Commission on February 26, 2002 initially and amended most recently on December 16, 2019. thyssenkrupp complies with all recommendations of the DCGK. The DCGK is a recognized standard for good corporate governance at German exchange-listed companies with the exception of the recommendations concerning the number of external supervisory board mandates (recommendation C.5) and the remuneration of the executive board (section G.I). The Executive Board and Supervisory Board of thyssenkrupp AG issued a declaration of conformity in accordance with Art. 161 AktG.