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.

Reports and Declarations

Statements on Corporate Governance

Declaration of Compliance

Management Boards and Supervisory Boards of publically listed companies must annually declare that the recommendations of the "Government Commission German Corporate Governance Code" published by the Federal Ministry of Justice and Consumer Protection in the official part of the Federal Gazette have been and will continue to be met, and which recommendations were not and will not be applied, in which case they are required to provide a reason. The Declaration must be made permanently available to shareholders.

Remuneration Report

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

Further Information

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Further information