Corporate Governance

home24 complies with the majority of the recommendations and suggestions of the German Corporate Governance Code, which incorporates nationally and internationally recognized standards of good and responsible corporate governance. The purpose of the code is to increase the transparency of the German system of corporate governance and supervision for investors. It includes recommendations and suggestions for management and supervision concerning shareholders and shareholders’ meetings, management and supervisory boards, transparency, accounting and auditing.

Declaration of conformity in accordance with section 161 German Stock Corporation Act (Aktiengesetz)

Corporate Governance Structure

home24 is organized under European law as a European company (Societas Europaea (SE)) and therefore subject to European legislation on such companies, especially to the SE Regulation. As a company registered in Germany, home24 is also subject to German law. If any matter is not covered or only partially covered by the SE Regulation, the provisions of German law that apply to a German stock corporation (Aktiengesellschaft) are also applicable to home24.

home24 SE is the parent company of the group and primarily operates under the commercial name “home24”. home24 also operates under additional commercial names, in particular “Fashion for Home” and “Mobly”, as well as individual brands for specific products, in particular with respect to home24’s private label offering.

home24 SE has a dual management and supervisory system consisting of the Management Board and the Supervisory Board.

The Supervisory Board checks the actions and decisions of the Management Board.

Committees of the Supervisory Board

The following committees have been established by the Supervisory Board in accordance with the recommendations of the German Corporate Governance Code:

  • Audit Committee: The audit committee deals with accounting matters, in particular the treatment of fundamental topics (e.g. the application of new accounting standards as well as the review of the accounting processes, of interim financial reports, the supervision of the efficiency of internal risk management systems, internal controls and compliance matters, the implementation and supervision of the audit).
  • Remuneration Committee: The Remuneration Committee considers the remuneration and terms of employment for the members of the Management Board. It may commission its own independent review of the remuneration guidelines and remuneration paid to the members of the Management Board to ensure that these guidelines reflect good practice and that the remuneration remains competitive and in line with market practice.
  • Nomination Committee: The Nomination Committee prepares the Supervisory Board’s proposals to home24’s shareholders’ meeting regarding the election of members of the Supervisory Board.