Our culture of responsibility

Corporate Governance

Covestro places great importance on responsible corporate governance. At the heart of this promise to our shareholders stands our commitment to the German Corporate Governance Code and to the Articles of Incorporation that reflect this standard.
Corporate Governance

Since the day it was listed in October 2015, Covestro has met this commitment and been in compliance with all of the recommendations of the German Corporate Governance Code. It has formally documented this compliance with annual declarations and has further declared that it intends to comply fully with the recommendations of the German Corporate Governance Code in the future as well.

Moreover, a detailed corporate governance report is an integral part of the annual report. Here, Covestro discusses corporate governance, compliance and compensation in addition to its declaration of conformity.

Further information

Documents Download
Articles of Incorporation of Covestro AG PDF
Corporate Governance Report
DCGK Declaration of Conformity
Documents Download
DCGK Declaration of Conformity 2020
DCGK Declaration of Conformity 2019
DCGK Declaration of Conformity 2018
DCGK Declaration of Conformity 2017
DCGK Declaration of Conformity 2016 PDF
DCGK Declaration of Conformity 2015 PDF
Declaration on Corporate Governance

Corporate Governance in detail

Click on the topics below for a comprehensive documentation of corporate governance at Covestro.

Shareholders and Annual General Meeting

Shareholders exercise their right to vote at the Annual General Meeting to the extent prescribed by law and the Articles of Incorporation.

Further information

Shareholder structure
Annual General Meeting


Supervisory Board

The Supervisory Board comprises 12 members. Under the German Codetermination Act, half of the members represent the shareholders and half of the members represents the company’s employees. The shareholder representatives of the Supervisory Board are elected by the shareholders at the Annual General Meeting. The Supervisory Board appoints, oversees and advises the Board of Management and is directly involved in decisions of fundamental importance to the company.

Tasks, Members, Committees
Disclosure of securities transactions


Documents Download
Report of the Supervisory Board
Supervisory Board Terms of Reference PDF
Compensation Report
Board of Management

The Board of Management has the ultimate responsibility for managing the company in the company’s best interest, considering the interests of the shareholders, employees and other stakeholders, with the aim of creating sustainable value.

Further information

Members of the Board of Management
Individual areas of responsibilities
Disclosure of securities transactions


Documents Download
Board of Management Terms of Reference PDF
Compensation Report
Compensation System PDF

Covestro treats all shareholders in the same circumstances equally when disseminating material information. It is Covestro’s policy to immediately provide notice to all shareholders of all new and material information that is communicated to financial analysts and institutional investors. To access this important information, please visit the Investor Relations website at: investor.covestro.com.


Further information

Financial reports
Financial calendar
Insider information
Voting rights announcements
Employee stock participation program
Share buyback

Takeover-relevant information
Reporting and Audit of the Annual Financial Statements

Shareholders and third parties are mainly informed by the Consolidated Financial Statements and the Group Management Report. During the financial year they are additionally informed by means of a half-year financial report and, in the first and second halves, by quarterly financial reports. The Consolidated Financial Statements and the Condensed Consolidated Financial Statements in the half-year financial report and the quarterly financial report are prepared under observance of internationally recognized accounting principles.

Independent Auditor's Report