The origin of Corporate Governance, its declaration and implementation goes back to 1930 and is rooted in the separation of ownership and control. Corporate Governance deals with the specification and compliance of rules and procedures by which a company should be managed. The term Corporate Governance stands for responsible corporate management and control geared to long-term value creation. In Germany, the principles of Corporate Governance are laid down in the German Corporate Governance Code. Further information about Corporate Governance at Henkel can be found here.