The concept of corporate governance has been discussed in Germany since the late 1990s. Basically, the term refers to the system by which companies or organizations are managed and controlled. Good corporate governance is mainly aimed at promoting the transparency of organizational processes and business policy principles to foster trust among investors, business partners, employees and the public in general.
Published in 2002, the German Corporate Governance Code summarizes the basic legal framework for the management and supervision of German listed companies. It outlines generally accepted national and international standards of good and responsible business conduct and management. The Code is updated regularly.
The Board of Management and the Supervisory Board of KSB Aktiengesellschaft support the principles of the German Corporate Governance Code and have adopted the recommendations laid down in the Code with a few exceptions.
