The Management Board and the Supervisory Board of voestalpine AG recognized the Austrian Corporate Governance Code in 2003 and have also implemented all the amendments introduced since that date without exception.
In addition to the mandatory “L rules” (legal requirements), voestalpine AG voluntarily complies with all of the “C rules” (comply or explain) and the “R rules” (recommendation) of the Code. The Corporate Governance Code provides Austrian stock corporations with a framework for managing and monitoring their company. The Code is based on the provisions of Austrian stock corporation, stock exchange, and capital market law, as well as the OECD Principles of Corporate Governance. It was most recently updated in January 2018. The Code achieves validity when companies voluntarily undertake to adhere to it. The Code aims to establish a system of management and control of companies and Groups that is accountable and geared to creating sustainable, long-term value. By voluntarily undertaking to adhere to the Code, voestalpine backs these objectives and commits to providing a high degree of transparency for all the company’s stakeholders.
Business transactions with associated companies or parties or pending proceedings (e.g., antitrust proceedings) are reported on in the quarterly reports and in the annual reports of voestalpine AG.