Code reform: Where’s Barley?

Katarina Barley

At the level of state secretaries and ministry officials, i.e. in the engine room of power, so to speak, some are interested in accompanying the reform of the Corporate Governance Code. Stefan Ramge, head of department at the Federal Ministry of Finance, for example, has written an expert statement on the government commission’s draft – and has not spared no criticism in it. But the heads of department have so far largely ignored the topic, even the formally responsible minister Katarina Barley (SPD) is holding back in a distinguished manner. Why?

A modern code would strengthen the business location

We’re afraid: Barley & Co. assume that they won’t win politically, but can lose a lot. If they took the side of the government commission, they would feel the displeasure of the economy, which is currently meeting the commission chairman Rolf Nonnenmacher. And if they agree with the companies, the opposition could construct a lobbying accusation from this. So you’d rather turn your head and let the Commission muddle on? We believe that silence must not be an option. A modern code would strengthen the business location – for the digital transformation, but also in the intensified competition with US digital capitalism and Chinese state capitalism. It is therefore high time that the government intervened in the debate – above all Katarina Barley.