Corporate Governance and Declaration of conformity

The Supervisory Board meeting on December 9, 2021 focused on the implementation of the recommendations and suggestions of the Code in the Volkswagen Group. We discussed the Code’s guidance in detail and issued the annual declaration of conformity with the recommendations of the Code in accordance with section 161 of the AktG together with the Board of Management.

The joint declarations of conformity by the Board of Management and the Supervisory Board are permanently available at www.volkswagenag.com/en/InvestorRelations/corporate-governance/declaration-of-conformity.html. Additional information on the implementation of the recommendations and suggestions of the Code can be found in the Group Corporate Governance Declaration.

In 2020, the Audit Committee agreed a suitable procedure with the Board of Management for ongoing monitoring of the Volkswagen Group’s related-party transactions. No disclosures or approval decisions on the part of the Supervisory Board were required for related-party transactions under statutory provisions in the reporting year.