Corporate Governance
Declaration on Corporate Governance pursuant to Sec. 289a German Commercial Code (HGB)
- Declaration pursuant to
Sec. 161 of the German Stock Corporations Act (AktG) - Key corporate governance practices
- Mode of operation for Executive Board and Supervisory Board , and composition and mode of operation of their associated committees
Corporate Governance report
HOCHTIEF complies with all recommendations of the German Corporate Governance Code. In accordance with this Code, the Executive Board reports jointly on behalf of the Supervisory Board on corporate governance at HOCHTIEF.HOCHTIEF has a tradition of good corporate governance, which promotes confidence in the Company among investors, clients and the workforce. We model our corporate governance on the German Corporate Governance Code, which was first introduced in 2002. We have fully complied with all of its recommendations since 2006. A Compliance Declaration pursuant to Section 161 of the German Stock Corporations Act (AktG) showing that HOCHTIEF continues to comply with all recommendations of the German Corporate Governance Code was submitted by the Executive Board and Supervisory Board in March 2009.
HOCHTIEF has always based its actions on nationally and internationally accepted standards for good and responsible corporate governance. Corporate governance is for us a benchmark that embraces all parts of the Company, and we are determined to continuously develop the way in which its principles are translated into practice.
We alert shareholders to important dates on a continuous basis with the financial calendar published in our annual report and quarterly reports as well as on our website. Two annual meetings for analysts and investors are supplemented by conference calls when our quarterly results are published. All presentations for these events may be freely viewed online. Recordings of the meetings are also available for playback on our website.
Our annual General Shareholders' Meeting is prepared with the goal of informing all shareholders in a prompt, comprehensive and effective manner both before and during the meeting. Ahead of the General Shareholders' Meeting, the annual report and the notice of the meeting provide shareholders with full information on the preceding fiscal year and all items on the agenda. All documents and information relating to the General Shareholders' Meeting are additionally made available together with the annual report on our website.
Shareholders can vote at the General Shareholders' Meeting in person, appoint a representative of their choice to vote on their behalf, or authorize a Company-appointed proxy to vote according to instructions. Shareholders unable to attend a General Shareholders' Meeting can follow the entire proceedings in a webcast.
