Corporate Governance

A GUIDELINE FOR SUCCESSFUL CORPORATE GOVERNANCE: THE GERMAN CORPORATE GOVERNANCE CODE

Corporate governance establishes a framework for managing and supervising a company. This includes its organization and values, and the principles and guidelines for its business policy, among other things. The German Corporate Governance Code contains recommendations and suggestions for good and responsible corporate management and supervision. It was prepared by the government commission established for the purpose on the basis of the material provisions and nationally and internationally accepted standards of corporate governance. As a rule, the government commission reviews the Code annually in light of current developments and updates it as necessary. The Board of Management and the Supervisory Board of Volkswagen AG base their work on the recommendations and suggestions of the German Corporate Governance Code. We believe that good corporate governance is a key condition for sustainably increasing the Company’s value. It helps strengthen the trust of our shareholders, customers, employees, business partners and investors in our work and meet the steadily increasing demand for information from national and international stakeholders.