60 years of the German Stock Corporation Act – cause for celebration or wake-up call for reform?
1 min read
White & Case corporate partners Alexander Kiefner and Thilo Diehl have written a review on the occasion of the 60th anniversary of Germany's Stock Corporation Act (Aktiengesetz), sparking debate over whether it’s time for celebration or a wake-up call for reform. While the AG remains a reliable legal structure for raising capital, international competition and the rise of more flexible European corporate forms highlight the need for modernization. Recent legal changes have improved flexibility, but key issues—like reforming the rules on contesting shareholder resolutions and updating the legal framework for supervisory boards—remain unresolved. Experts urge lawmakers to act boldly and ensure the AG remains competitive, with a major study carried out together with the German Stock Institute (DAI) on reform needs set for release in December 2025.
Read the full article (German) here.
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