Long-term economic success is always based on clear corporate management and strong values. We regard our corporate governance principles to be mandatory for all of our business activities.
For PATRIZIA, a responsible corporate policy based on sustainable value creation forms the basis of our business dealings and has established itself as the norm in our dealings with all stakeholders. PATRIZIA acknowledges the need for management and supervision of the company, based on the aim of achieving long-term commercial success. This is also the benchmark by which we wish to be measured.
For PATRIZIA, responsible and transparent corporate governance is a central element of long-term success. The corporate governance principles of PATRIZIA are essentially incorporated in the company’s articles of association as well as the bylaws for the Executive Directors and the Board of Directors. Further aspects of our corporate identity are captured in our rules of conduct, which are applicable throughout the group of companies.
In addition to changing legal regulations, there are enduring principles at PATRIZIA. These express our moral values and we consider them an obligation to be adhered to in all of our actions. PATRIZIA believes that the first and foremost duty of the company and its representatives is to gain and strengthen the trust of shareholders, investors, business partners, customers and our own employees as part of a sustained and value-based system of corporate governance. We attach great importance to sharing the performance of our business with others, including related opportunities and risks, in a fair and transparent manner.
The governing bodies of the Company regularly state the declaration of conformity pursuant to Article 161 AktG (German Stock Corporation Act). The recommendations and suggestions of the German Corporate Governance Code are applied with only a few exceptions. The current and all preceding Declarations of Conformity are available on the PATRIZIA website.
Information to the governing bodies of the Company and their methods of working is contained in the Corporate Governance Statement pursuant to Article 289f HGB and Article 315d HGB (German Commercial Code).
The compensation paid to the PATRIZIA's governing bodies is disclosed in a separate compensation report since fiscal year 2021. To illustrate Management Board compensation, the template recommended in the Corporate Governance Code was used. Find more information here.
Transactions with related companies and individuals
The members of the PATRIZIA's governing bodies, or related parties generally can effect transactions with PATRIZIA SE and its subsidiaries. Further information can be found in each year’s notes in the annual report.
Conversion into a European Stock Corporation (SE) completed
The conversion of PATRIZIA AG into a European Stock Corporation (Societas Europaea, SE) was completed on 15 July 2022 by entry in the Commercial Register and is thus formally effective. The legal form of the SE emphasises the European and international orientation of PATRIZIA Group. The previous dualistic management structure, consisting of a Management Board and a Supervisory Board, was adapted to an international, monistic management structure with a Board of Directors. Management is carried out by three Executive Directors. The company's founder and majority shareholder Wolfgang Egger is an Executive Director as well as a member of the Board of Directors, together with six external and independent Directors. The Audit Committee and the Nomination and Compensation Committee remain unchanged. Shareholder rights or financial reporting are not affected by the conversion. The headquarters of PATRIZIA SE will remain in Augsburg / Germany.
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