Coporate Governance in the S&T group
Within the S&T Group, good corporate governance represents open and transparent corporate communication, respect for shareholders’ interests, responsibility in all business decisions, appropriate handling of risks and the promotion of equality and diversity. Compliance with national and international laws, regulations and guidelines as well as the principles of the German Corporate Governance Code are a matter of course for S&T and are part of the management mentality. Responsible, sustainable and value-oriented corporate management is given the highest priority in the S&T Group.
Germany's Corporate Governance Code
S&T AG is a company that is publicly listed in Germany. As such, S&T AG has committed itself to observing Germany’s Corporate Governance Code, which assigns its requirements into three categories, as a general rule:
- Laws: they are the law of the land and are for that reason binding.
- Recommendations: they are to be recognized by their including the terms “should” or “are to be”. Deviations from these recommendations are possible, but have to be disclosed on an annual basis.
- Suggestions: they are to be recognized through their should use of “should be” or “can be”. The observation of suggestions is not obligatory.
S&T adheres to the February 2017 version of Germany’s Corporate Governance Code – with the exception of a few of its points. This adherence comprises S&T’s employment of the code as a set of guidelines informing the management of its business and communication. To these points, S&T AG’s Executive Board and Supervisory Board have taken positions. This was done by their issuing a compliance statement that accords to §161 of the Securities Act (AktG).
The current version of the existing deviations from the Code can be viewed here (update from 31.01.2020).
A comprehensive report was last published as part of the annual publication on 26.03.2020 and can be viewed here (Publication 26.03.2020).
S&T's Supervisory Board and Supervisory Board Committees
As of June 16, 2020 the Supervisory Board, under the chairmanship of Ms. Claudia Badstöber, is composed of five members, who oversee and advise the Executive Board. Members of the Supervisory Board
The Supervisory Board has formed three committees: the Audit Committee, the Nomination Committee and the Remuneration Committee.
Further Information on Supervisory Board and Supervisory Board Committees