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Corporate governance refers to the entire system for managing and overseeing a company, including its organization, its commercial principles and guidelines as well as all internal and external regulatory and monitoring mechanisms. Effective and transparent corporate governance guarantees that BASF is managed and monitored in a responsible and value-driven manner. This fosters the confidence of our domestic and international investors, the financial markets, our business partners, employees and the public in the company.
BASF accords good corporate governance great importance. We therefore support the German Corporate Governance Code, which we regard as an important tool in the capital market-driven development of corporate governance and control. We follow the recommendations of the German Governance Code in its revised version of July 2007 with few exceptions. In the same manner, BASF also fulfils most of the non-obligatory proposals of the German Corporate Governance Code.
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