Annual General Meetings in Germany: Are German annual general meetings attractive attractive enough for the future?

The virtual Annual General Meeting made necessary by the COVID-19 pandemic has reignited the discussion about a general modernization of the Annual General Meeting. Beyond the debate about the right format, criticism of the Annual General Meeting continues unabated. In Germany, it is perceived as unattractive by shareholder representatives and companies alike. In cooperation with the law firm Freshfields Bruckhaus Deringer, Deutsches Aktieninstitut has compared the legal framework and practical experience of holding AGMs in Germany with those in the USA, the UK, the Netherlands, France and Switzerland in the study “AGMs in Germany: Are German AGMs attractive enough for the future”. At the centre of the recommendations for action is the proposal for a limited reform of the law on defective resolutions, which would have an immediate and noticeable impact on the practice of general meetings.