Lively discussion regarding the reform of the German Corporate Governance Code (DCGK) 2019


Dusseldorf, 26th November 2018. For the second time this year, HEADSAHEAD, a human resources consulting firm specializing in executive searches, in collaboration with Linklaters, one of the leading corporate law firms in Germany, invited interested chairpersons of supervisory boards to an exchange of practical knowledge in the Industry Club Düsseldorf. Following the positive response of the first practice forum in July, a number of participants of the first event as well as new guests got together on November 26, 2018 to discuss current topics and issues of chairpersons of supervisory boards.

Marc Tüngler, Member of the Governmental Commission of the German Corporate Governance Code (DCGK), was on hand this evening to give insights into the draft of the German Corporate Governance Code’s new version 2019.

Mr. Tüngler pointedly presented the reform’s core issues which should make the code leaner, more structured, easier to read and, in turn, more user-friendly. With Prof. Dr. Hans-Ulrich Wilsing, Partner at Linklaters as an expert sparring partner, a lively exchange took shape right away about the pros and cons of the revised code structure and the new proposals concerning the independence of supervisory board members and executive board remuneration.

Code modifications regarding executive board remunerations, which among other things, should ensure more clarity and transparency in this sector, especially stimulated animated discussions among all chairpersons of supervisory boards present. In particular, the future application of tried and proven remuneration systems, the tough question of the measurability of strategic and sustainable corporate objectives as well as the appropriate and meaningful variable remuneration components were discussed here. All in all, it was an exchange at a high level that was characterized by comprehensive practical experiences and profound know-how.

″The governmental commission is thirsting for your opinions!″ Mr. Tüngler wrapped up the discussion after around two hours with this urgent appeal, and explicitly called upon the participants to get actively involved with their expert opinions in the consultation of the governmental commission that is ongoing until January 31, 2019.

The mood was good during the subsequent wrap-up in the club lounge. ″HEADSAHEAD successfully brought together a selected round of supervisory board members from a wide array of industries to discuss relevant issues with stimulating, diverging views in a discrete atmosphere,″ commented Viktoria Kickinger, Managing Director of the Directors Channel and the Directors Academy, about the evening that was extremely inspiring for her.

In light of the high acceptance of this event format, HEADSAHEAD and Linklaters plan on continuing the series and they’re already looking forward to sending out invitations to the third practice forum for chairpersons of supervisory boards in the spring of 2019.

 

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