Corporate Governance at LEONI

As a German market-listed company, LEONI is subject to a large number of different laws and stipulations. These include the German Public Companies Act, the German Commercial Code as well as the International Financial Reporting Standards (IFRS) and the recommendations and suggestions of the German Corporate Governance Code (hereinafter consistently referred to as “Code”).

This body of rules, which LEONI AG regards as important, represents a valuable set of guidelines for the Supervisory Board and the Management Board in structuring their collaboration and performing their duties. Pursuant to Article 161 of the Public Companies Act, the Management Board and Supervisory Board comment in their annual Declaration of Conformity on the provisions of the Code and the recommendations which were not applied during the financial year and which are not to be applied in the future. The Code’s recommendations and suggestions were discussed in depth during their joint meeting on 9 December 2009. The Management Board and Supervisory Board also drafted and agreed an updated Declaration of Conformity. This declaration is, together with the no longer current conformity declarations of the past five financial years, made public on LEONI’s website. The Management Board and Supervisory Board hence explain the implementation of the Code’s provisions in the respective reporting period in the Corporate Governance Report of the Annual Report.