Daimler AG is to create a new Board of Management position for “Integrity and Legal.” The Supervisory Board today passed a resolution on the expansion of the Board of Management. The new position will be filled externally.
The new Board of Management member’s tasks will include managing the global Legal and Compliance Organization and the related processes, as well as business ethics and the sustained anchoring of compliance and integrity throughout the Group.
As a matter of principal, Daimler aims to create a corporate culture that not only fulfills the requirements of applicable law, but also meets the highest ethical demands and is regarded as exemplary throughout the industry. To achieve this goal, Daimler will successively take further initiatives in addition to establishing this new Board of Management position.
“Compliance and integrity are extremely important to the Daimler Group and we intend to set new standards in this respect. Another aspect is that the requirements placed on a globally active company by regulations and legislation are constantly becoming stricter and more complex. This is why we have decided to create a dedicated Board of Management position for Integrity and Legal. We already have a clear idea on how to set up the position,” stated Dr. Manfred Bischoff, Chairman of Daimler’s Supervisory Board.
“On the subject of compliance, we follow the same principles we apply in our business: to be pioneering with innovations in our industry. To do so, on the one hand we are now creating the organizational and structural basis. On the other hand, we will continue to consistently prioritize integrity as a key element of our corporate culture. No business in the world is worth violating applicable laws, regulations or ethical standards,” stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler.
“The new Board of Management position is a consistent step in the further development of our corporate structure and culture. At the same time, it is and it will remain the task of the entire Board of Management and of all executives to permanently anchor throughout the Group a keen awareness of adherence to the law and regulations, as well as for business ethics,” continued Dr. Zetsche.
In this context, the Daimler Board of Management has decided to further expand its compliance activities – with the inclusion of relations with business partners. The Daimler Group now operates in nearly 200 countries, either with its own companies or with partner companies. The flawless execution of all transactions in conformity with applicable regulations requires a properly trained compliance organization with a worldwide reach as well as effective processes and controls. For this reason, Daimler will create even clearer structures and apply more resources in order to meet those requirements.
All of the new activities will be carried out in addition to the programs already established in recent years. The measures taken include establishing the position of a Chief Compliance Officer reporting to the new member of the Board of Management, setting up a global Compliance Organization, placing compliance managers in numerous subsidiaries and operating units, and developing an international training program including regular compliance conferences, seminars and information. A Compliance Consultation Desk has been established offering Daimler employees individual advice on questions related to the area of compliance at Daimler. Furthermore, whistleblower possibilities have been established at Daimler, allowing each employee as well as external personnel to inform the company of any compliance issues.
Source: Daimler AG