Corporate Governance
The Supervisory Board regularly deals with the application of the Corporate Governance principles.
Last year, the Supervisory Board dedicated its meeting on December 11, 2008, in particular to detailed discussions of the amendments of the German Corporate Governance Code ratified on June 6, 2008.
Alongside the decision regarding cessation of foreign operations in Austria and the Netherlands, in its meeting on December 11, 2008, the Supervisory Board examined the efficiency of its work based on an evaluation form made available to the members of the Supervisory Board in good time prior to the meeting. The Supervisory Board also discussed procedures in the Supervisory Board, the information flow between the Committees and the Supervisory Board, and the timeliness and sufficient content of reporting by the Executive Board to the Supervisory Board on this occasion. Measures aimed at increasing efficiency were analysed.
At the same meeting, the MLP AG Supervisory Board also satisfied itself that the company had met the recommendations of the German Corporate Governance Code in line with its Declaration of Compliance pursuant to § 161 of the German Stock Corporation Act (AktG) in the last financial year and will in future continue to strictly comply with the recommendations of the Government Commission on the German Corporate Governance Code (version dated June 6, 2008). In December, the Supervisory Board and Executive Board issued a Declaration of Compliance pursuant to § 161 of the German Stock Corporation Act (AktG) for the financial year 2008 and made it permanently available to the shareholders via its website.
No conflicts of interest arose in the reporting period.
A summary of Corporate Governance at MLP, including the text of the Declaration of Compliance of December 2008, can be found in the Corporate Governance report by the Executive and Supervisory Boards in this annual report. All relevant information is also available on our homepage at www.mlp-ag.de.