Corporate governance is an important part of a company’s success, responsible corporate management and supervision. Wacker Chemie AG attaches great importance to the rules of proper corporate governance. In this report, the Executive Board provides details – also for the Supervisory Board – on corporate management in accordance with Item 3.10 of the German Corporate Governance Code (Code) and Section 289a (1) of the German Commercial Code (HGB).
Declaration of Conformity and Corporate Governance Reporting
The Executive and Supervisory Boards dealt intensively with the company’s corporate governance and the alterations to the Code in the 2010 fiscal year. The Executive Board and the Supervisory Board have resolved to issue the following annual Declaration of Conformity as per Section 161 of the German Stock Corporation Act (AktG). The Declaration of Conformity was made permanently available to the general public on the company’s website.
The 2010 Declaration of Conformity Issued by Wacker Chemie AG’s Executive and Supervisory Boards
General Declaration Pursuant to Section 161 of the German Stock Corporation Act
In December 2009, the Executive Board and the Supervisory Board of Wacker Chemie AG issued their last declaration of conformity pursuant to Section 161 of the German Stock Corporation Act. Since that time, Wacker Chemie AG has complied with the recommendations of the German Corporate Governance Code in the version dated June 18, 2009, with the following exceptions, and will, with a few exceptions, comply with the recommendations of the Code in the version dated May 26, 2010.
Wacker Chemie AG’s largest shareholder is still Dr. Alexander Wacker Familiengesellschaft mbH. It holds over 50 percent of the voting shares in Wacker Chemie AG (2009: over 50 percent).
In 2010, Blue Elephant Holding GmbH (Pöcking, Germany) once again did not have any voting-share changes to report, which means it still holds over 10 percent (2009: over 10 percent) of Wacker Chemie AG.