#kodexwende

My open letter to Katharina Barley

This post is also available in deGerman

I had already discussed it last week: In my view, the German Corporate Governance Code (DCGK) is by no means a “self-commitment”, as the term “code” suggests. Rather, there is an external obligation because a small circle of commission members develops rigid guidelines for companies.

Federal Justice Minister Katharina Barley (SPD) nevertheless continues to describe the body of rules as “a core element of the self-regulation of the German economy”. I have therefore drawn their attention in an open letter to the fact that, in view of the current shape of the Government Commission DCGK, there is no longer any question of such self-regulation.

I have also asked Mrs Barley to use her remaining term of office to launch a dialogue process for a fundamental reform of corporate governance.

In my view, we need to discuss in particular what a code commission should look like that actually represents business – and therefore knows better what companies need, rather than being one-sided in the interests of investors. In this context, I have also asked the Chairman of the Government Commission, Professor Rolf Nonnenmacher, for a critical self-reflection and offered a dialogue.

I am looking forward to your feedback and will keep you up to date.

Editorial by Peter H. Dehnen -> About the Person.

 

This post is also available in deGerman