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Samples in periodicals archive:
The supervisory board and Wolfgang Klein are seeking a cancellation of the management contract in mutual agreement that is below the recommendations of the German Corporate Governance Code.
Pursuant to the stipulations of the Sarbanes-Oxley Act, the New York Stock Exchange, the German Corporate Governance Code, and other requirements, Siemens developed a code of conduct that also expresses corporate policy.
K Combined Code of July 2003, the German Corporate Governance Code of December 2004, the French Lois de Security Financiered of July 2003, the Dutch Tabaksblat Code of 2005 and the Belgian Corporate Governance Code (Lippens) of 2005.
One of the main focuses of the German corporate governance code was to strengthen the supervisory board in performing its duties.
In addition, Octavian is deeply concerned that the current Supervisory Board members are not in a position to duly fulfil their duties given the significant misunderstandings regarding the legal requirements for Supervisory Board members in listed companies and the respective recommendations of the German Corporate Governance Code referred to in the Supervisory Board's statement of December 29, 2011.
This change at the top of the audit committee is in accordance with the recommendations of the German Corporate Governance Code, which state that the Supervisory Board Chairman should not also be Audit Committee Chairman.
The other items of the agenda, which were mainly concerned with an amendment to the Articles of Incorporation relating to the recommendations of the German Corporate Governance Code and the provisions of the German Corporate Integrity and Modernization of the Right of Rescission Act (UMAG), were approved in the form recommended by the management.
In particular, these appointments clearly violate the spirit of the German Corporate Governance Code, which, in order to avoid conflicts of interests, requires that "Supervisory Board members shall not exercise directorships or similar positions or advisory tasks for important competitors of the enterprise.