The German Corporate Governance Code was published in 2002. It represents a major step forward in the capital market-driven development of statutory provisions and practical implementation of corporate governance. We welcome the Code and the objectives it sets out. We follow the recommendations of the German Corporate Governance Code in its revised version of June 2007 with a few exceptions.
You may download the Declaration of Conformity 2003 pursuant § 161 German Stock corporate act as well as the "Verhaltenskodex für Finanzangelegenheiten" and the Corporate Governance Standards der New York Stock Exchange:
