Dear GBN readers,
i am pleased to present the 200th edition of our GermanBoardNews to you today. When we launched in 2015, our aim was to promote and give new impetus to the debate on corporate governance and in particular the role of supervisory boards. We wanted to open our mouths when something disturbs us – but always remain fair.
All this still applies – for example with a view to the VARD initiative #FutureGoodGovernance. In the coming months, we will pay particular attention to the issue of ‘independence from supervisory boards’, especially if they are in the pay of (short-term oriented) investors. Because it is evident again and again that despite all lip service they pursue their own goals. This is exactly what their donors expect from them and they are paid for it.
Independence is ethos, not regulation
ThyssenKrupp has shown just how dangerous this can be for companies. The shareholder representatives on the Supervisory Board have played anything but a good role in recent years. In my capacity as Chairman of the Board of Management of VARD, I have therefore this week in a conversation with ThomsonReuters called for the resignation of Ursula Gather (Krupp Foundation) and Jens Tischendorf (Cevian). I am convinced that independent industry understanders must finally take the helm
For us, independence is ethos, as VARD has described it in its BERUFSGRUNDSÄTZEN as a guard rail, and not regulatory. It should therefore not be an issue for the German Corporate Governance Code (even if the Government Commission does not want to keep its hands off it)
Because independence is not just a formal question. It is always about the personality of the individual, his social character, his self-confidence and integrity. It is about dealing with responsibility as well as accountability, consideration and control – in short: about personal governance as the basis for optimal decisions (and always for the benefit of the company).
You already notice: Abstractly the topic cannot really be grasped. In the GermanBoardNews we want to take a closer look in the future, fill the term independence with life and try to make supervisory boards think.
I would be very pleased if you would stay weighed and recommend us to others (here you can subscribe to GermanBoardNews in an uncomplicated and free way). And of course my team and I are happy about praise, suggestions and constructive criticism.
With kind regards
Peter H. Dehnen (Publisher)
Any additions, comments, objections? I look forward to your feedback