At ADLER, effective corporate governance complying with high standards at both a national and international level is part of the basic corporate concept. So corporate governance stands for responsible and transparent management and control of the company, oriented to sustained value added. Efficient co-operation between Executive Board and Supervisory Board, consideration of shareholder and employee interests, respect for the fundamental interests of the Company in general as well as frank and transparent communication within the Company are all major aspects of corporate governance and apply to all sectors of the Company. By complying with these principles ADLER aims to ensure responsible, professional and transparent management oriented to long-term success and to boost further the confidence placed in the Company by employees, shareholders and the general public. In the Annual Report, the Executive Board and the Supervisory Board are reporting jointly in conformance with Section 3.10 of the German Corporate Governance Code about ADLER´s Corporate Governance.
As a German listed stock corporation, corporate governance at ADLER is primarily geared to the law applicable in Germany and the recommendations and proposals in the German Corporate Governance Code. With few exceptions, Adler Modemärkte AG has followed all the recommendations in the Code. So the Executive Board and the Supervisory Board presented a Declaration of Conformity on May 12, 2015 which has a permanent place on the ADLER website.
Further information on corporate governance of the Company, especially the method of operation of the Executive Board and Supervisory Board and major management practices, is given in the Corporate Governance Statement pursuant to Section 289a HGB, which is published on the ADLER website.