The code was drafted at the initiative of SEV Hellenic Federation of Enterprises as part of its mandate to promote the continuous enhancement of the Greek corporate institutional framework and broader business environment as well as the improvement of the competitiveness of its members and of the Greek economy as a whole.
In engaging in this initiative, SEV was motivated by the absence in Greece of a widely endorsed and applied ?comply or explain? corporate governance code setting out standards of good practice for Greek companies. The Code is inspired by best practice corporate governance as set out in the OECD Principles of Corporate Governance and recommendations of the European Commission, and takes into account both the Greek regulatory framework and established practices and cultural characteristics in Greece. The Code was available for comments until 14 December at firstname.lastname@example.org.