Corporate Governance calls for transparent and responsible management.
It includes binding regulations
• compliance with laws
• compliance with recognized standards, and
it includes voluntary measures, meaning
• the development and compliance with company standards,
• the development and enforcement of internal control structures.
The German Corporate Governance Codex of 2006 contains a long list
of stipulations, e.g. publication of salaries and other emoluments paid to board members,
and recommendations, e.g. outgoing directors should not be given posts on the board of trustees.
The CG Codex is incorporated into German corporation laws, but lack of compliance
has virtually no juridical consequences.
