Corporate Governance

At EnBW, responsible and transparent actions geared to long term success are a core element of the corporate governance culture. We feel committed to all the rules and values of the German Corporate Governance Code and consequently follow all its recommendations (see Declaration of Compliance 2011). We understand them as a standard and guideline for us to permanently enjoy the trust placed in EnBW by shareholders, customers, employees as well as the public.

Following detailed discussions in December 2007, the Management Board and Supervisory Board have decided to no longer follow the EnBW Corporate Governance Principles, which have existed since 2002. The background of this decision was the significant increase in the importance and acceptance of the German Corporate Governance Code over the last few years, as well as its ongoing revision by the responsible Government Commission. This resulted in the EnBW Corporate Governance Principles only exceeding the transparency and publicity standards of the German Corporate Governance Code in a few points. All EnBW-specific Corporate Governance topics are now clearly laid out on the following pages.