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Corporate Governance

BASF advocates responsible corporate governance that focuses on sustainably increasing the value of the company. BASF SE follows all of the recommendations of the German Corporate Governance Code in the version dated December 16, 2019 (Code 2020), the version in force on submission of the Declaration of Conformity. In the same manner, BASF follows all of the nonobligatory suggestions of the German Corporate Governance Code.

Pursuant to section 162 of the German Stock Corporation Act (AktG), the management and supervisory boards of a publicly listed company prepare a clear and understandable report every year. This report outlines the main principles of compensation for the members of the Board of Executive Directors and the Supervisory Board and provides specific information on compensation granted and owed to current and former members of the Board of Executive Directors and Supervisory Board in the 2021 business year.

This report meets the disclosure requirements of section 162 AktG and the applicable accounting rules (HGB, IFRS). Furthermore, the recommendations of the German Corporate Governance Code (GCGC) in the version dated December 16, 2019, have been observed.

Pursuant to section 120a(1) AktG, the current compensation system for the Board of Executive Directors was submitted to the Annual Shareholders’ Meeting and approved by a 92.69% majority on June 18, 2020. It has been applicable to all current members of the Board of Executive Directors since January 1, 2020.

Compensation report

You will find our declarations of compliance here.

Last Update February 25, 2022