On November 6, 2018, the Government Commission German Corporate Governance Code published proposals for amendments to the Code. The Board of Executive Directors and the Supervisory Board of K+S are critical of the amendments and issued a joint statement on the proposed amendments to the Code.
“In our opinion, the objectives of the Government Commission to make the Code more relevant, clearer, and more compact, has unfortunately not been completely achieved,” says Dr. Andreas Kreimeyer, Chairman of the Supervisory Board of K+S Aktiengesellschaft. “The scope for action on parts of the Board of Executive Directors and the Supervisory Board is being restricted in many ways.”
Dr. Burkhard Lohr, Chairman of the Board of Executive Directors of K+S Aktiengesellschaft adds: “The German Stock Corporation Act which applies to us, contains extensive regulations that provide a reliable standard for the company and its stakeholders. These regulations, which also form the basis of the Code, should not be modified by the Government Commission.”
Interested members of the public are currently invited to submit written comments on the proposed amendments to the Code by January 31, 2019.
The joint statement by the Board of Executive Directors and the Supervisory Board of K+S Aktiengesellschaft can be found on their website.
Read the article online at: https://www.worldfertilizer.com/special-reports/25012019/board-of-executive-directors-and-supervisory-board-of-ks-are-critical-of-amendments/