Germany: Commission proposes changes to Corporate Governance Code

The Government Commission on the German Corporate Governance Code yesterday published for consultation the changes it proposes to make to the German Corporate Governance Code. An overview of the changes, in English, is available here (pdf). These include the recommendation that the supervisory board place a cap on the total remuneration of directors as well as those elements which make up remuneration. A more detailed explanation of the proposed changes is available, in German, here (pdf). A copy of the Code, reflecting the proposed changes, has also been published (in German): see here (pdf).