At SAP, we believe that we have a responsibility to maintain shareholder, customer, and employee confidence in the Company's high standards of governance and accountability. This confidence is essential to everything we do in business and allows us to measure our level of success. Key policies and statutes for the governance and control of SAP include:
SAP's Articles of Incorporation
The basic conditions framing SAP’s set-up in corporation law terms are contained in the Articles of Incorporation. The articles of incorporation are established when a German stock corporation is founded and can only be changed by resolution of a general meeting of shareholders.
German Code of Corporate Governance
Another key document is the German Corporate Government Code, adopted on February 26, 2002 by a German Government Commission established for that purpose in September 2001. The aim of the Code is to reinforce confidence in the management and oversight of German corporations by spelling out clear rules of corporate governance that are transparent for German and international investors. The Government Commission reviews the Code and publishes a revised version once a year.
Declaration of Implementation Pursuant to the German Stock Corporation Act, Section 161
Every year, the Supervisory Board and the Executive Board make a declaration, as required by the German Stock Corporation Act, section 161, stating that SAP has implemented and will follow the Code or identifying any recommendations in the Code that we do not, or will not, follow.
Code of Business Conduct for Employees
The Code of Business Conduct expresses the high standard of integrity that we require from our employees in conducting the Company’s business, in terms transparent to employees and other stakeholders.