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During the preparations for its IPO, STRABAG SE implemented the rules of the Austrian Code of Corporate Governance (ÖCGK). Following the publication of an amended version of the Code in January 2009, STRABAG SE is now fully and without exception committed to the Austrian Code of Corporate Governance as amended in January 2009 (ÖCGK 2009) and with the Code’s objectives. STRABAG SE sees compliance with all the rules contained within the Code as a top priority. For this reason, we not only pledge to abide by the minimum requirements but also endeavour to implement “best practice”. This means that we will also, without exception, follow all of the so-called C-rules (“comply or explain”) – the C-rules are voluntary and go beyond the legal requirements. STRABAG SE is committed to compliance with ÖCGK 2009 with the following exception:
Rule 57 C ÖCGK 2009: Because of the group’s internationality, it can be of an advantage for STRABAG SE to have supervisory board members who also serve as management board members at publicly listed companies – even if this means failure to comply with Rule 57 C. Of course, STRABAG SE will continue to abide by all applicable legal requirements.
STRABAG SE plans to submit annually to an independent evaluation of full and complete compliance with the Austrian Code of Corporate Governance (ÖCGK). The first of these evaluations was undertaken for the 2008 financial year by Berger Saurer Zöchbauer Rechtsanwälte. The full evaluation report is available in the download area.
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