The Austrian Code of Corporate Governance provides Austrian public limited companies with a regulatory framework for the management and monitoring of the company. It contains internationally accepted standards of sound corporate governance along with the rules of Austrian stock corporation law that are significant in this context.
The Corporate Governance Code aims to ensure the responsible management and control of companies and corporate groups with an emphasis on sustainable, long-term value creation. These measures ensure that the interests of all parties whose welfare is dependent upon the success of the company are optimally served.
BAWAG Group has made a commitment to apply the applicable provisions of the Austrian Code of Corporate Governance. It contains rules based on compulsory legal requirements (L rules); rules that should be complied with, where deviations must be explained and justified in order for the company’s conduct to conform with the Code (C rules, comply or explain); and rules that are recommendations, where non-compliance must not be disclosed or justified (R rules).
For any further information about the Austrian Code of Corporate Governance please visit the website of the Austrian Working Group for Corporate Governance.