The evolution of virtual general meetings in Germany: Legal developments, practical implications, and international perspectives

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Abstact

The COVID-19 pandemic necessitated rapid adaptations in corporate governance, particularly in the way shareholder meetings are conducted. One of the most significant responses was the introduction of virtual general meetings (VGMs), initially as a temporary measure and later, as of July 2022, as a permanent option codified in §118a of the German Stock Corporation Act (AktG). This article explores the legal, procedural, and practical implications of VGMs in Germany. Drawing on the theoretical foundations laid by Klaus J. Hopt and the empirical research of Ulrich and Zettl (2023), this research study provides a critical analysis of the new legal framework, highlights key safeguards for shareholder rights, and compares Germany’s approach to international developments in corporate law.

Keywords: Virtual General Meeting, Germany; § 118a AktG, Corporate Governance, Shareholder Rights, COVID-19 Legislation, Hybrid Meetings, Digital Participation, Corporate Law Reform

JEL Classification: K20

Received: 03.06.2025
Accepted: 04.06.2025

How to cite: Ulrich, P. (2025). The evolution of virtual general meetings in Germany: Legal developments, practical implications, and international perspectives. In A. M. Gallo, U. Comite, & A. Kostyuk (Eds.), Corporate governance: International outlook (pp. 104–110). Virtus Interpress. https://doi.org/10.22495/cgiop21