The Management Board and the Supervisory Board of voestalpine AG resolved as early as in 2003 to recognize the Austrian Corporate Governance Code (Code), and they have also implemented all of the amendments thereto that were introduced in the meantime.
In addition to the Code’s mandatory “L rules” (legal requirements), voestalpine AG also voluntarily complies with all of its “C rules” (comply or explain) and the “R rules” (recommendations).The Code provides Austrian stock corporations with a framework for managing and monitoring their companies. It is based on the provisions of Austrian stock corporation, stock exchange, and capital market law as well as, generally, on the OECD Principles of Corporate Governance. The Code was most recently revised in January 2021. It achieves validity when companies voluntarily undertake to comply with it. The Code aims to establish an accountable corporate governance system for companies and Groups that is geared to the creation of sustainable value in the long term. By voluntarily undertaking to abide by the Code, voestalpine supports these objectives and commits to providing a high degree of transparency to all of the company’s stakeholders.
Business transactions with associated companies and parties are reported in the semi-annual and annual financial statements of voestalpine AG.