Corporate Governance at LEONI
As a German market-listed company, LEONI AG 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”).
The German Corporate Governance Code represents a valuable set of guidelines for LEONI AG’s Board of Directors and Supervisory Board in structuring their collaboration and performing their duties. Board of Directors and Supervisory Board discuss and advise on the code’s contents on a regular basis. Further pursuant to Article 161 of the Public Companies Act, the Board of Directors and Supervisory Board comment on the code’s contents in the respective current Declaration of Conformity and as well on the recommendations which were not applied since the last declaration of conformity and which are not to be applied in the future. The respective current declaration is, together with the no longer current conformity declarations of the past five financial years, made public on LEONI’s website. Beyond that the Board of Directors and Supervisory Board explain the implementation of the code’s provisions in the respective reporting period in the Corporate Governance report of the annual report.