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page 132 chapter III
Corporate governance: recommendations, not laws
The Corporate Governance Code is updated annually.
“Last time, certain things were handled very reticently,
for example in connection with the subject of transparency,”
said moderator Klaus Prömpers. “Many
companies reject statutory regulations on that and
other issues, as they would be too binding. There is additionally
the fear that highly complicated regulations
could result in Germany. But how else can companies
be convinced to follow the recommendations?” Klaus-
Peter Müller thought things were definitely heading
in the right direction in this respect: “95 percent of the
DAX companies support the ideas of corporate governance
and adhere to recommendations.”
“But the lawmakers nevertheless want to intervene in
business enterprises even more, by introducing new
laws and regulations on remuneration, for example.
Are you currently more engaged in a battle to ward off
the flood of planned new regulations, or are business
and politics trying to shape the future together?”
asked the moderator. The primacy of politics was in order,
replied Klaus-Peter Müller, but a clearly defined di-