The German Corporate Governance Code in the version dated 16 December 2019 presents recommendations and suggestions for the management and controlling of the company and includes nationally and internationally recognized standards for good and responsible corporate management. The code aims to make the German Corporate Governance System transparent and understandable. Its purpose is to promote the trust of international and national Investors, customers, employees and the general public in the management and supervision of listed German stock corporations. The Management Board and the Supervisory Board engaged intensively with the regulations of the German Corporate Governance Code during the business year 2020. On the basis of these deliberations, the Management Board and the Supervisory Board submitted at 17 December 2020 the Declaration of Compliance with explanations in accordance with § 161 Stock Corporation Act (AktG).