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Corporate Governance

ANDRITZ has adopted the rules of conduct laid down in the Austrian Code of Corporate Governance and regards the Code as an essential requirement for implementation of responsible company management and control, which is directed towards creating sustainable added value and transparency for shareholders and other stakeholders.

The Executive Board and the Supervisory Board as well as the entire staff of the ANDRITZ GROUP have committed to complying with the Code.

The Austrian Code of Corporate Governance is based on a voluntary commitment and goes beyond the legal requirements for corporations. ANDRITZ obeys the rules of the Code almost entirely. In the interests of the basic principle of "Comply or Explain" in the code, ANDRITZ justifies its non-observance or non-compliant observance of those rules that go beyond the legal requirements (so-called C-rules) as follows:

Rule 30 (Disclosure of the basic principles of the remuneration system for the Executive Board): The variable portion is based exclusively on the net income; there are no non-financial criteria that impact the extent of the variable remuneration. The ANDRITZ GROUP operates in business areas that show considerable differences in some respects, which is why it is only useful to a limited extent to define uniform non-financial criteria for the entire Group. This fulfills the requirements of the objectivity and clear traceability concepts. The sustainability aspect was taken into account in designing the 2018 stock option program by including a three-year waiting period and the criteria of the increase in operating profitability (expressed as the EBITA margin) to an average of 8% and an increase in share price of 10 and 15%, respectively. Both targets (increase in operating profitability and increase in share price) must be achieved in order to exercise the options.

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Downloads
  • Remuneration policy of ANDRITZ AG PDF : 183 KB
  • AGM 2020: Voting result Remuneration policy of ANDRITZ AG PDF : 63 KB
  • ANDRITZ Corporate Governance report 2019 PDF : 334 KB
  • ANDRITZ Articles of Association

    ANDRITZ: articles of association, October 2019

    PDF : 2 MB
  • Austrian "Code of Corporate Governance", January 2015

    Austrian Code of Corporate Governance - January 2015 - www.andritz.com

    PDF : 594 KB
  • Report of the external evaluation of the ANDRITZ Corporate Governance report PDF : 710 KB