S&T Group believes in open and transparent corporate communications and respects all of its shareholders’ varying interests. The company understands the importance of shareholder confidence and takes responsibility in all business decisions, appropriately handling any risks and promotes equality and diversity across the business. S&T Group places renewed emphasis on responsible, sustainable and value-orientated corporate management.
The company complies with national and international laws, regulations and guidelines in addition to the principles of the German Corporate Governance Code. As a publicly listed company in Germany, S&T is committed to observing Germany’s Corporate Governance Code, which assigns its requirements into three categories:
- Laws: they are the law of the land and are for that reason binding.
- Recommendations: they are to be recognized by including the terms “should” or “are to be”. Deviations from these recommendations are possible, but have to be disclosed on an annual basis.
- Suggestions: they are to be recognized through their use of “should be” or “can be”. The observation of suggestions is not obligatory.
This latest Corporate Governance Report of S&T AG complies with the new German Corporate Governance Code, amended on December 16, 2019.
The Supervisory Board, under the chairmanship of Ms. Claudia Badstöber, is composed of five members, who oversee and advise the Executive Board.
Compliance plays a central role in the corporate culture of S&T Group. We appreciate the continued support of our employees, customers, suppliers, business partners and investors, and we are committed to upholding the integrity of our group of companies. We have shared legal requirements and our position on ethical issues in the S&T global code of conduct that outline the values we adhere to. S&T underlined its expections to its business partners and suppliers of complying with the requirements laid out in the S&T supplier code of conduct.
Furthermore, S&T has a global compliance system with a Chief Compliance Officer reporting directly to the Executive Board. Preventive measures and checks, such as training courses and audits, take place, and this is supplemented by a whistleblowing system. Employees, business partners, and third parties have the opportunity at any time to report misconduct. Any misconduct reported is investigated fully, resulting in S&T Group taking the appropriate action.