Corporate governance
Lawful and responsible management at Aurubis
Questions and announcements regarding corporate management, control, and transparency all fall under corporate governance. Aurubis AG considers responsible and transparent corporate governance as a central challenge and indispensable prerequisite for the creation of sustainable value for its shareholders and all other stakeholders.
In the joint Corporate Governance Report issued by the Executive Board and the Supervisory Board, Aurubis has committed itself to responsible, transparent corporate management and control, oriented to increasing enterprise value. We understand corporate governance as a continuous process to improve management and control in light of new experiences and regulations as well as evolving national and international standards.
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德国公司治理有限公司de contains three types of rules that differ from each other in terms of their binding character: statutory regulations, recommendations, and suggestions.
Recommendations (“shall”) establish internationally and nationally recognized standards of conduct. In addition, the Code provides suggestions (“should”) to individual companies for good and responsible corporate governance and control. In contrast to statutory regulations, compliance with recommendations and suggestions is not mandatory.
Regarding suggestions, however, exchange-listed companies must explain the degree of compliance with them once a year (Declaration of Conformity). Any deviations must be disclosed therein. Beyond the scope of the Declaration of Conformity, the alliance also provides information about the implementation of suggestions on a voluntary basis.
Corporate Governance Report
The Executive Board publishes its Corporate Governance Report and the Declaration of Conformity as part of the Annual Report, which is availablehere(excerpt from the Annual Report 2019/20).
Declarations of Conformity
The latest Declaration of Conformity is availablehere. You can find older versions in ourarchive.
Fulfillment of the specification in detail
In addition to the information listed in the Declaration of Conformity, Aurubis AG publishes a list of corporate governance practices with regard to all recommendations and suggestions of the German Corporate Governance Code:
Ad hoc reports are company messages that are intended to reach all shareholders at the same time. According to Art. 17 MAR, Aurubis is obliged to immediately publish company news that could potentially have a significant impact on the share price.
Our ad hoc announcements from 2014 on are availablehere.
You can find the notifications currently subject to disclosure requirements here.
In accordance with Art. 19(1) subparagraph 2 MAR, members of the Executive and Supervisory Boards of a public company as well as closely related persons must notify the company and the Federal Authority for Financial Services Supervision (BaFin) about the purchase and sale of shares in the company or related financial instruments. The companies are obligated to publish this information. Insignificant purchase and sales transactions (under € 5,000 per calendar year, from January 1, 2020 below € 20,000.00) are exempt from this disclosure obligation.
The early identification and observation of risk development is of major importance. Furthermore, we strive to limit negative effects on earnings caused by risks with appropriate and economically sound countermeasures.
Risk management is an integral component of the centralized and decentralized planning, management, and monitoring processes and covers all of the Aurubis Group’s main sites, business sectors, and staff functions. The planning and management system, risk reporting, an open communication culture, and risk reviews at the sites create risk awareness and make our risk situation transparent.
Risk management officers have been appointed for all sites, business sectors, and staff functions, and they form a network within the Group. The Group headquarters in Hamburg manages the network. Corporate Risk Management reports directly to the Chief Financial Officer. The RMS is documented in a corporate policy.
Standard risk reporting takes place bottom-up each quarter using a uniform, Group-wide reporting format. Within this format the identified risks and risks beyond a defined threshold are explained and evaluated on the basis of their probability of occurrence and their business significance, and measures to manage them are outlined. The risks registered with Group headquarters are qualitatively aggregated into significant risk clusters by Corporate Risk Management and reported to the entire Executive Board. The report also establishes the basis for the report to the Supervisory Board’s Audit Committee as well as external risk reporting.
In the report to the Executive Board and the Audit Committee, the qualitatively aggregated risk clusters are assessed with due regard to risk management measures (net perspective) based on their probability of occurrence and the potential effect on earnings pursuant to the spreads included in the table and are classified as low, medium, or high.
Please also refer to the Risk Management Report in our Annual Report.
Risk Management Report(excerpt from the Annual Report 2019/20)
As an industrial enterprise and an employer, we are aware of our significant responsibility towards our neighborhood, the environment, customers, and business partners, as well as our employees.
In accordance with Section 40 (1) of the German Securities Trading Act (WpHG), Aurubis AG is obligated to publish these voting rights notifications via the DGAP (Deutsche Gesellschaft für Ad-hoc-Publizität mbH).
Our voting rights notifications pursuant to Sections 33 et seq. of the German Securities Trading Act (WpHG) are listedhere.
An overview of the shareholder structure can be found in thecurrent Annual Report.
We kindly request that any shareholders obliged to inform Aurubis AG about changes in numbers of voting rights send the relevant notification to the following address:
Aurubis AG
Konzernrechtsabteilung
Hovestrasse 50
20539 Hamburg
Germany
Fax: +49 40 7883-3990
E-mail:votingrights@aurubis.com
Information about Aurubis' Employee Share Program is availablehere.
Information about Aurubis' share buyback program is availablehere.