General changes

  • The recommendations which companies are intended to follow or explain deviations from are now in a numbered sequence.
  • A short introduction in a shaded text box can now be found at the beginning of most chapters of the Guidelines.
  • Many of the recommendations now have additional commentary that is marked specifically as such.
  • The wording of the Guidelines has been harmonised so that now, for instance, the phrase 'The Board shall'
  • The "comply or explain" principle is outlined and instructions on how to explain deviations from the guidelines are laid out in the introduction chapter.
  • In the previous versions a special annex on public companies was included but such an annex is not to be found in the latest edition.