The Management Board and the Supervisory Board of voestalpine AG resolved as early as in 2003 to recognize the Austrian Code of Corporate Governance (ACCG), and they have also implemented all of the amendments thereto that were introduced in the meantime.
In addition to the ACCG’s binding legal requirements (“L rules”), voestalpine AG voluntarily complies with absolutely all of its “C rules” (comply or explain) as well as its “R rules” (recommendations). The ACCG 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 ACCG was most recently revised in January 2021. It achieves validity when companies voluntarily undertake to comply with it. It aims to establish an accountable corporate governance system for companies and corporate groups that is geared to creating sustainable value in the long term. By voluntarily undertaking to abide by the ACCG, 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.