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Annual Report

Corporate Governance Report

(Part of the Management Report)
Creating transparency, strengthening trust, adding value

Sustainably increasing the value of the Company is our most important task so as to safeguard the continued existence of the Volkswagen Group for the long term. The trust of our customers and investors is a fundamental condition. We gain this trust through transparent and responsible corporate governance, which takes the highest priority in our daily work. That’s why the Board of Management and the Supervisory Board of Volkswagen AG comply with the recommendations of the current German Corporate Governance Code as issued on May 26, 2010 with only one limited exception.

RECOMMENDATIONS AND SUGGESTIONS OF THE GERMAN CORPORATE GOVERNANCE CODE GUIDE OUR CORPORATE GOVERNANCE

The German Corporate Governance Code contains recommendations and suggestions for good corporate governance. They have been prepared by the Government commission responsible on the basis of the main statutory provisions and nationally and internationally recognized standards of corporate governance. Moreover, the German Corporate Governance Code is continuously developed and updated. The recommendations and suggestions of the Code form the basis for the work of the Board of Management and the Supervisory Board of Volkswagen AG. We strengthen the trust of our customers and investors in our work and meet the steadily increasing demand for information of national and international stakeholders through responsible and transparent corporate governance.

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