Corporate Governance Statement
The German Accounting Law Modernization Act of May 28, 2009, added a new section 289a to the German Commercial Code (BilMoG) requiring listed stock companies to publish a corporate governance statement either as part of their annual report or on their website. The corporate governance statement must include the declaration pursuant to the German Stock Corporation Act (AktG), section 161, relevant details of practices in corporate governance and information on how the Managing Board and the Supervisory Board work, who serves on which committees, and how the committees work.