The HIRSCH Servo Group is committed to meeting the goals set out in the Austrian Code of Corporate Governance. A number of the principles defined in the Code have been an integral part of our corporate culture for many years.
As it was revised again in 2007, the Management Board and Supervisory Board studied the Code in depth during the 2007/08 business year. The explanations and deviations are listetd in the following download.
Download Corporate Governance Report
Resolution adopted by the Supervisory Board of HIRSCH Servo AG regarding the criteria of independence for the Supervisory Board members of HIRSCH Servo AG:
Pursuant to Rule 53 of the Austrian Code of Corporate Governance (ÖCGK), the Supervisory Board shall define the criteria that constitute its members’ independence and shall publish them on the website of the company. The Supervisory Board of HIRSCH Servo AG hereby defines on the basis of the general clause (Rule 53) and Annex 1 to ÖCGK (Guidelines for Independence) that the grounds for exclusion applicable to the auditor under Art. 271 Company Code (UGB) shall apply as criteria for assessing whether a supervisory board member shall be deemed as dependent.
It is hereby declared that the Supervisory Board of HIRSCH Servo AG is independent in accordance with Rule 53.
On behalf of the Supervisory Board: Georg Gorton, Chairman of the Supervisory Board
February 2009