Corporate Governance Code

Code governing cooperation between a company’s management and supervisory boards. The German Corporate Governance Code was adopted in February 2002 by a government commission, the so-called Cromme Commission. In February 2003, the Code was supplemented with a specific series of actions, which emerged from the German Government’s 10-point paper on strengthening corporate integrity and investor protection.
The Corporate Governance Code currently has the status of a recommendation, i.e. it was not adopted as a law, but represents a voluntary commitment on the part of companies. However, under the Transparency and Disclosure Act [TransPuG], all publicly listed companies must make an annual public declaration as to whether they comply with the Corporate Governance Code or not.
The Fraport Corporate Governance Code was adopted in September 2002.