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 ...Corporate governance declaration
The corporate governance declaration in accordance with section 289f and section 315d of the Handelsgesetzbuch (HGB – German Commercial Code) is com-bined for PWO AG and the PWO Group ...Declaration of compliance
Each year, the management board and the supervisory board of a listed stock corporation must issue a declaration on whether they comply and have complied with the recommendations of the Government ...Executive bodies of the Company
As a stock corporation under German law, PWO AG has a dual governance system in which management and supervision are kept strictly separate. The Executive Board runs operating activities and carriesGerman Supply Chain
The separate non-financial report comprises the separate non-financial report for PWO AG and the separate non-financial report for the PWO Group, which com-prises PWO AG and its 4 international subsidiaries.Non-financial reports
The separate non-financial report comprises the separate non-financial report for PWO AG and the separate non-financial report for the PWO Group, which com-prises PWO AG and its 4 international subsidiaries.Principles of Conduct
In order to promote a culture of integrity within our company, we have developed a code of conduct ...PWO materiality matrix
The key action areas and priorities of our sustainability strategy are compiled in a materiality matrix. Topics have been grouped in line with non-financial reporting aspects in accordance with section 289c HGB.Remuneration of the Boards
The Annual General Meeting approves the system for the remuneration of the Executive Board and resolves the remuneration for the members of the Supervi-sory Board. Most recently, the Annual General Meeting on May 10, 2022 ...Whistleblower System
Violations of laws, as well as unlawful and non-compliant behavior against the company’s value system ...
Reports and Declarations
Statements on Corporate Governance
The Corporate Governance Statement in accordance with Section 289f and Section 315d of the German Commercial Code (HGB) is combined for PWO AG and the Group and is part of the combined management report.
- Statement on Corporate Governance 2023 (German version)240319_PWO2023_EzU_de_final.pdfDownload pdf (6 MB)
- Statement on Corporate Governance 2022_Erklaerung-zur-Unternehmensfuehrung_2022_EN_safe.pdfDownload pdf (740 KB)
- 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)
Previous Corporate Governance Reports
- 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 Compliance
- Declaration of Compliance 2024Entsprechenserklaerung_final_en.pdfDownload pdf (71 KB)
- Declaration of Compliance 2023Entsprechenserklaerung_2023_12_DE_EN.pdfDownload pdf (80 KB)
- Declaration of Compliance 2022Entsprechenserklaerung_2022_12_EN.pdfDownload pdf (80 KB)
- Declaration of Compliance 2021Entsprechenserklaerung_2021_EN_signed.pdfDownload pdf (127 KB)
- Update of the Declaration of Compliance 2020Entsprechenserklaerung_2021_04_EN_signed.pdfDownload pdf (115 KB)
- Declaration of Compliance 2020Entsprechenserklaerung_2020-EN.pdfDownload pdf (127 KB)
Remuneration Report
The remuneration report 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 on April 28, 2022.
Previous Remuneration Reports
- 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)
PWO Materiality Matrix
The most important fields of action and priorities of our sustainability strategy are summarized in a materiality matrix, which we developed in a comprehensive process in fiscal 2021. In the matrix, we grouped the topics along the aspects of non-financial reporting in accordance with Section 289 c HGB. The materiality matrix reflects the importance of these topics for our stakeholders and the impact on PWO. It serves as a guide for our transparent reporting and is an important element for our strategic decision-making.
Non-Financial Reports
The separate non-financial report comprises the non-financial report for PWO AG and for the PWO Group which comprises PWO AG and its 4 international subsidiaries.
Previous Non-Financial Statements
- 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)