The Austrian Code of Corporate Governance has been in force since October 2002. It has been revised several time and is available in the current version of July 2012. The Austrian Code of Corporate Governance provides a framework for managing and monitoring companies.
The objective of the code is the management and control of companies and groups oriented towards sustainable and long-term value creation. This objective best serves the interests of all whose economic well-being is linked to the company's success. The code realizes a high degree of transparency for all of the company's stakeholders.
The code includes internationally common standards of good corporate governance and, moreover, important regulations of the Austrian Stock Corporation Act.
Lenzing AG complies with the Austrian Corporate Governance Code (ACGC) and is fully committed to the principles of good corporate governance. The ACGC contains rules based on legally binding regulations (L-rules) as well as C-rules based on internationally accepted requirements (Comply or Explain) and rules which are recommended (R-rules). Lenzing completely adheres to all three rule categories.