Corporate Governance

The Administrative Board and Executive Directors of conwert are committed to transparent corporate communication as an important instrument of good Corporate Governance. conwert voluntarily committed to compliance with the Austrian Code of Corporate Governance (ACCG) as early as 2005, making it the first Austrian property company to do so. The ACCG provides all listed Austrian companies and listed European companies who are registered in Austria with a framework for the management and control of enterprises; the Code conforms to international standards for good corporate management. The latest version of the ACCG is available at

The rules of the ACCG are divided into L, C and R Rules. L Rules (Legal Requirement) are based on mandatory legal requirements; C Rules (Comply or Explain) are internationally accepted standards. Non-adherence or deviations must be explained and justified. In addition, the ACCG also contains R Rules (Recommendation), which serve as guidelines. conwert has had its compliance with the ACCG Rules externally evaluated by Ernst & Young Wirtschaftspr├╝fungsgesellschaft m.b.H.

As conwert is managed as a single-tier Societas Europaea (SE), all of the ACCG Rules relating to the Management Board and Supervisory Board are applied to the Executive Committee and Administrative Board in the spirit of the Code. Here, the following additional principles are considered when applying the ACCG to conwert:

  • The application of individual rules relating to the Administrative Board and/or Executive Committee must reflect the purpose of the Code, which is applied on the basis of division of responsibilities under the framework stipulated by law.
  • The Administrative Board manages the company while the Executive Directors conduct the ongoing business of the company.
  • The ACCG rules of conduct for the Supervisory Board must generally be observed by the Administrative Board.
  • In principle, the ACCG rules of conduct for the Management Board must be observed by the Executive Committee, whereby the Administrative Board is accountable for any responsibilities assigned to it by law or through the Articles of Association.
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Corporate Governance Report 2016 153.53 KB