Corporate Governance
Corporate governance stands for the responsible management and control of a company, geared toward long-term value creation that forms the essential basis for sustainable corporate success.
For a successful company with a rich tradition, like PWO, lawful action is simply a matter of course. We at PWO are committed to responsible corporate governance to ensure we maintain and enhance the confidence of our shareholders, employees, customers and suppliers, as well as the public, in the Company’s and the Group’s management.
In doing so, we are guided by the German Corporate Governance Code (GCGC) in its currently valid version, which was initially published by the Government Commission GCGC on February 26, 2002. The GCGC is a recognized standard for good corporate governance at listed German companies.
PWO issues an annual Declaration of Conformity explaining whether the recommendations of the Corporate Governance Commission have been met. With this declaration, PWO follows the "comply-or-explain principle" that requires companies to disclose deviations.
Compliance
The term "compliance" involves setting up organizational procedures within the company ...Principles of Conduct
In order to promote a culture of integrity within our company, we have developed a code of conduct ...Whistleblower System
Violations of laws, as well as unlawful and non-compliant behavior against the company’s value system ...
Reports and Declarations
Declaration on Corporate Governance, Corporate Governance Report
Publically listed stock corporations must submit and publish a Declaration on Corporate Governance each year, and group parent companies must do the same for the Group. In addition, the German Corporate Governance Code recommends that the Management and Supervisory Boards report on Corporate Governance annually in the Declaration on Corporate Governance. PWO AG has combined the Declaration on Corporate Governance of the company and that of the Group.
- Statement on Corporate Governance 2021Erklaerung-zur-Unternehmensfuehrung_2021_EN_safe.pdfDownload pdf (338 KB)
- Statement on Corporate Governance 2020_Erklaerung-zur-Unternehmensfuehrung_2020_EN_safe.pdfDownload pdf (67 KB)
- Corporate Governance Report 2019_Corporate_Governance_Bericht_2019_EN_safe.pdfDownload pdf (103 KB)
- Corporate Governance Report 2018Corporate_Governance_Bericht_2018_EN_safe.pdfDownload pdf (143 KB)
- Corporate Governance Report 2017Corporate_Governance_Bericht_2017_EN_safe.pdfDownload pdf (83 KB)
- Corporate Governance Report 2016Corporate_Governance_Bericht_2016_EN.pdfDownload pdf (1 MB)
Declaration of Conformity
- Declaration of Conformity 2021Entsprechenserklaerung_2021_EN_signed.pdfDownload pdf (127 KB)
- Update of the Declaration of Conformity 2020Entsprechenserklaerung_2021_04_EN_signed.pdfDownload pdf (115 KB)
- Declaration of Conformity 2020Entsprechenserklaerung_2020-EN.pdfDownload pdf (127 KB)
- Declaration of Conformity 2019Entsprechenserklaerung_2019_EN.pdfDownload pdf (39 KB)
- Declaration of Conformity 2018Entsprechenserklaerung_2018_EN.pdfDownload pdf (39 KB)
- Declaration of Conformity 2017Entsprechenserklaerung_2017_12_EN.pdfDownload pdf (40 KB)
- Declaration of Conformity 2016Entsprechenserklaerung_2016_12_EN.pdfDownload pdf (37 KB)
- Declaration of Conformity 2015Entsprechenserklaerung_2015_12_EN.pdfDownload pdf (37 KB)
- Declaration of Conformity 2014Entsprechenserklaerung_2014_12_EN.pdfDownload pdf (41 KB)
- Declaration of Conformity 2013Entsprechenserklaerung_2013_12_EN.pdfDownload pdf (19 KB)
- Declaration of Conformity 2012Entsprechenserklaerung_2012_12_EN.pdfDownload pdf (19 KB)
Remuneration Report
The remuneration report 2021 was prepared jointly by the Executive Board and the Supervisory Board, is based on the requirements of German stock corporation law (section 162 of the Aktiengesetz (AktG – German Stock Corporation Act) and is consistent with the applicable recommendations of the German Corporate Governance Code as amended December 16, 2019.
- Remuneration Report 2020GB_2020_EN_CG_Verguetungsbericht_safe.pdfDownload pdf (131 KB)
- Remuneration Report 2019GB_2019_EN_CG_Verguetungsbericht_safe.pdfDownload pdf (92 KB)
- Remuneration Report 2018GB_2018_EN_CG_Verguetungsbericht_safe.pdfDownload pdf (166 KB)
- Remuneration Report 2017GB_2017_EN_6CG_Verguetungsbericht_safe.pdfDownload pdf (116 KB)
Non-Financial Reports, Statements
- Non-Financial Report 2021Nichtfinanzieller-Bericht_2021_EN_safe.pdfDownload pdf (373 KB)
- Non-Financial Statement 2020_Nichtfinanzielle-Erklaerung_2020_EN_safe.pdfDownload pdf (80 KB)
- Non-Financial Statement 2019_Nichtfinanzielle_Erklaerung_2019_EN_safe.pdfDownload pdf (159 KB)
- Non-Financial Statement 2018Nichtfinanzielle_Erklaerung_2018_EN_safe.pdfDownload pdf (282 KB)
- Non-Financial Statement 2017Nichtfinanzielle_Erklaerung_2017_EN_safe.pdfDownload pdf (196 KB)
Mission Statement in accordance with the German Supply Chain Due Diligence Act
PWO affirms its commitment to responsible and sustainable Corporate Governance. For us, besides compliance with legal framework conditions, this means the respect of human rights and protection of the environment. PWO works toward the realization of this fundamental concept both in its own business activities and across its entire supply chain. We have set a Sustainability strategy for ourselves, which we will explain in this Mission Statement, as the basis for anchoring our sense of responsibility.