Governance

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Corporate Governance Report

The strategy of the Mayr-Melnhof Group is focused on long-term profitable business activities in the core competence areas cartonboard and folding carton production. Here, the consistent compliance with the principles of diligent Corporate Governance has been the basis of our goal for a long time, with high transparency and protection of the interests of our stakeholders, thus generating management and control of the Company for long-term value added. In this context, we make the equal treatment of all our shareholders a top priority. In 2002, the Austrian Corporate Governance Code (ÖCGK) came into effect. Ever since the Code became effective, Mayr-Melnhof Karton AG has voluntarily committed itself to compliance with the Code, with the goal of always fulfilling up-to-date international standards of responsible corporate governance.

The Code is based on the provisions of Austrian stock corporation, stock exchange and capital market laws, EU recommendations on the tasks of Supervisory Board members and on the compensation of the directors as well as the guidelines contained in the OECD Principles of Corporate Governance. The Code is regularly checked against national and international developments and adjusted accordingly. The most recent version of the Code can be found online at www.corporate-governance.at.

Adherence to Corporate Governance in the business year 2010 was evaluated on the basis of the most recent version of the Code of January 2010 as amended. Just as has been the case so far, Mayr Melnhof Karton AG continues to comply with all legal provisions without any restrictions. Additional recommendations or suggestions contained in the Code, which do not require any explanation in case of deviations have been implemented almost entirely.