The concept of Corporate Governance celates to the entire management and supervisory system of a firm. This includes its organisation, business policy guidelines and its the internal and external management and controlling mechanisms.
The German Corporate Governance codex, published in 2001, includes the principal legal regulations for company management and the supervision of societies listed on the stock market. It bases itself upon recognized international and national standards for responsible and effective company management.
The codex aims to the further confidence in the management and supervision of German public limited companies quoted in the stock market by national and international investors, clients, financial markets, employees and the public. You can download the German corporate governance codex from the link below the picture.
According to the German Stock Corporation Act (§ 161 AktG), Thielert AG as a company quoted in the stock market, has the obligation to publish the extent to which it has complied or will comply with these recommendations and also those recommendations which have not been, or will not be followed ("comply or explain").
Thielert AG intends to follow the recommendations and suggestions in the codex to a large extent.
In connection with making its annual report for 2005 public, Thielert AG will issue a first compliance declaration regarding the Corporate Governance codex, and will publish it under the subnavigation point "Declaration of Conformity".