German Corporate Governance Codex

The German Corporate Governance Codex aims to promote the trust of international and national investors, clients, employees and the public into the management and supervision of German listed incorporated companies.

It lists the main legal regulations for the management and supervision of German incorporated companies (business management) and contains international and national approved standards for a successful and responsible business management. The Codex aims at making the German Corporate Governance System more transparent and comprehensible. The Codex clarifies the rights of shareholders who allocate the required equity capital to the company and who carry the business risk.

Codex recommendations are marked in the text by the word "shall". The companies can act in deviation of this, but are then obliged to disclose this on an annual basis (see explanation). This enables the companies to consider the sectoral and business-specific requirements. Thus, the Codex contributes to the increase of flexibility and self-regulation of the German business constitution.

Furthermore, the Codex provides suggestions, which may be deviated from without an obligation of disclosure; here, the Codex uses words such as "should" or "can". All other parts of the Codex which are not linguistically marked in this way deal with instructions which need to be followed by the companies as applicable laws.

Current version of the German Corporate Governance Code as HTML / PDF
Current Statutes of Elmos Semiconductor AG (only available in German)

Elmos aims for sustained profitability and the provision of attractive returns for the owners. We consider the principle of sustainability a long-term task of optimizing equally important social, environmental, and economic demands. The following page gives you a first impression as to what responsible acting at Elmos means:

Code of Conduct