As an internationally operating company, we bear responsibility in numerous ways. This is true of our compliance with laws and regulations, but also applies to our relationship with our staff, shareholders, the public at large and the cultures within which we operate.

Corporate governance is a matter of vital importance to our company, since by acting in conformity with applicable laws we avoid sanctions and interruptions in business relationships. Moreover, responsible, value-based enterprise management assures our immaculate reputation and safeguards the trust of our business partners and stakeholders. We therefore embody state-of-the-art corporate governance as a matter of course. In addition to constant engagement with changing legal framework conditions, we provide an annual Declaration of Conformity with the German Corporate Governance Code that can be accessed on our website. We regularly update our Corporate Governance Principles, track and review changes to the German Corporate Governance Code and with a few well justified exceptions we comply with the recommendations of the current version of the Code as amended.

Our actions worldwide are guided by high ethical and legal standards, which we have defined in our Code of Conduct and can be viewed on our website.

As a listed European joint-stock company (SE) based in Hannover, we are subject to SE-specific laws, German laws governing stock corporations and the capital market, and laws on co-determination, especially the participation agreement concluded with the employees. The three governance bodies of Executive Board, Supervisory Board and General Meeting make up the governance structure of the undertaking. Their cooperation is regulated by law and by the company's Articles of Association. Furthermore, our Corporate Governance Principles and Code of Conduct constitute the basis of our enterprise management.