The new, amended German Corporate Governance code has been published. It is enforced on a comply-or-explain basis. Section 5.4.5 refers to limitations on the number of allowable director positions, and training ofSupervisoryBoard members, whichmust be funded by the company:
5.4.5 Every member of the Supervisory Board must take care that he/she has sufficient time to perform his/her mandate. Members of the Management Board of a listed company shall not accept more than a total of three Supervisory Board mandates in non-group listed companies or in supervisory bodies of non-group companies which make companies with similar requirements.
The members of the Supervisory Board shall on their own take on the necessary training and further education measures required for their tasks. They shall be supported by the company appropriately.
To download the new Code, click on download original asset at the lower right: