Germany: a “simplification” proposal for the Corporate Governance Code

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In early August, the Government Commission presented proposals to reform the Deutscher Corporate Governance Kodex (DCGK), Germany’s Corporate Governance Code. The proposals are primarily aimed at simplifying and “internationalising” the good-governance framework for German listed companies.
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On 5 August 2026, the Government Commission responsible for the German Corporate Governance Code (Deutscher Corporate Governance Kodex, or DCGK) published a draft revision of the Code, which is open for consultation until 4 September 2026. The aim is to make the text “more readable, easier to apply and more compatible with international standards”, without creating any new obligations for companies. Of the 66 existing recommendations, the draft provides for the full or partial removal of 13, the simplification or consolidation of five others, and the abolition of a number of formal requirements, including the publication of the supervisory board’s rules of procedure and the indication of the format of supervisory board meetings.

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