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).