The Zumtobel Group is committed to full compliance with the guidelines defined by the Austrian Corporate Governance Code and views this set of rules as a key requirement for responsible corporate management that is based on the sustainable, long-term creation of value and a high degree of transparency towards shareholders and other interest groups. The Austrian Corporate Governance Code is issued by the Austrian Working Group for Corporate Governance and represents a benchmark for good corporate governance and corporate control that exceeds legal requirements and meets international standards. The code applicable to the 2018/19 financial year (version: January 2018) is available for review on the website of the Austrian Working Group for Corporate Governance (www.corporate-governance.at). Voluntary commitment gives the code its legitimacy and forms the basis for the explanation of non-compliance with the C-Rules (comply or explain).
The Zumtobel Group complied with nearly all provisions of the code during the 2018/19 financial year. Actions deviated from only one C-Rule of the 83 Rules in the code, and the difference is described below
Comply or Explain
The following C-Rule of the code was or is currently not met:
The Zumtobel Group classifies information on insurance coverage, in general, and D&O coverage, in particular, as confidential data whose disclosure may result in damage to the corporation. Therefore, this information is not disclosed.