Corporate Governance: Key Metric for Our Corporate Culture
Corporate governance is the responsible management and supervision of a company. Good corporate governance is a key aspect of sustainable management and strengthens the trust of our customers, employees, shareholders, business associates and the general public in Vonovia SE; it increases the company’s transparency and strengthens our Group’s credibility.
Both the Management Board and the Supervisory Board are thoroughly committed to the principles and ideas of the German Corporate Governance Code (DCGK). The active implementation of the Code forms the basis for responsible corporate governance aimed at long-term value creation and serves as a guideline for conduct in the company’s daily management and business. Every year, the Management Board and Supervisory Board express their commitment to the Code by issuing a declaration of conformity pursuant to Section 161 of the German Stock Corporation Act (AktG), as they did in February of this year. 102-18
In the declaration on corporate governance, the Management Board also reports on corporate governance at Vonovia for the Supervisory Board at the same time. Both declarations will be permanently published by the company in its annual report as well as on its website for perusal (see AR 2016, Working hand-in-hand to ensure customer satisfaction).
But for us, good corporate governance is about much more than merely fulfilling statutory requirements. As a major housing company, we are aware of the particular significance of our entrepreneurial actions for society at large. This is why we are also committed to the main objectives and principles set out by the Corporate governance initiative of the German housing industry, which we have been a member of since November 14, 2003. The initiative supplements the principles of the German Corporate Governance Code to include housing-specific aspects and is committed to even greater transparency, an improved image and a more competitive real estate sector. 102-12