Comply or Explain

COMPLIANCE RICHTLINIE
KTM AG
Comply or explain
1. FIRMA, SITZ UND DAUER
Seit dem Inkrafttreten des Kodex im Jahr 2002 wurde das Regelwerk an die gesetzlichen Veränderungen in Österreich adaptiert. Änderungen
der überarbeiteten und aktualisierten Fassungen des Kodex wurden von KTM sofort umgesetzt, auch wenn sie für das Unternehmen erst zu
einem späteren Zeitpunkt Gültigkeit erlangt hätten.
Neben den gesetzlich verpflichtenden L-Regeln (legal requirement) hält die KTM AG alle C-Regeln (comply-or-explain) des Österreichischen
Corporate Governance Kodex in der Fassung von Jänner 2015 ein, bis auf folgende Einschränkungen:
C RULE 18 (INTERNAL AUDITING AS A SEPARATE FUNCTIONAL UNIT REPORTING TO THE EXECUTIVE BOARD)
No separate internal audit department has been set up in the light of the company’s size. However, the company has established an internal
controlling and reporting system enabling the Executive Board to identify risks and quickly implement an appropriate response. The Supervisory Board, particularly the Audit Committee, is regularly informed about the internal control mechanisms and risk management, throughout
the group. Further information on risk management can be found in the consolidated financial statements as of December 31, 2015.
C RULE 31 (FIXED AND PERFORMANCE-LINKED EXECUTIVE BOARD REMUNERATION)
This rule is not complied with, since the publication of Executive Board compensation divided into fixed and variable, performance-related
remuneration is considered to be sufficient information for all shareholders.
C-RULE 36
The Supervisory Board strives to continually improve its organization, work procedures and efficiency. An explicit self-evaluation did not take
place in the business year under review.
KTM AG
Stallhofnerstraße 3
5230 Mattighofen, Austria
T: +43 (0)7742 60 00-0
F: +43 (0)7742 60 00-303
W: www.ktmgroup.com
1
C-RULES 41 AND 43 (SETTING UP OF NOMINATION AND REMUNERATION COMMITTEES)
As the Supervisory Board of KTM AG consisted solely of four members, a Remuneration and Nomination Committee has not been set up, as
it would not lead to an increase in efficiency of the Supervisory Board’s work. The tasks of the Remuneration and Nomination Committee are
fulfilled by the entire Supervisory Board.
C-RULE 58
Two Supervisory Board members failed to attend more than half of the Supervisory Board meetings within the business year.
C-RULE 62
In accordance with C-Rule 62 of the Austrian Code of Corporate Governance (ÖCGK), the company commissions an external evaluation of
compliance with the C and R-rules of the Code regularly every three years. Said evaluation has not been conducted due to the lack of added
value for the shareholders.
C-RULE 83 (REPORT OF THE ANNUAL AUDITOR ON THE RISK MANAGEMENT FUNCTIONALITY)
This rule is not complied with, since the assessment of the functionality of risk management takes place within the internal reporting and is
communicated directly to the Executive Board.
KTM AG
Stallhofnerstraße 3
5230 Mattighofen, Austria
T: +43 (0)7742 60 00-0
F: +43 (0)7742 60 00-303
W: www.ktmgroup.com
2

Download Report