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Germany's Daimler adds integrity executive

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Germany's Daimler adds integrity executive

After bribery scandal, carmaker aims for highest standards

Christine Tierney / The Detroit News

German carmaker Daimler is creating a new position on its management board: an executive who will be responsible for corporate integrity and legal issues.

Daimler, which agreed this year to pay the U.S. government $185 million to settle bribery charges, said it aims to create a corporate culture that is not just law-abiding but meets the highest ethical standards.

"Compliance and integrity are extremely important to the Daimler Group, and we intend to set new standards in this respect," said Manfred Bischoff, chairman of the supervisory board.

In big German corporations, the supervisory board comprising shareholder and labor representatives oversees the management board.

In addition, "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," Bischoff said in a statement.

Daimler said the position would be filled from outside the company.

The Stuttgart, Germany-based manufacturer of Mercedes-Benz luxury cars and heavy trucks agreed in March to pay fines and penalties to settle charges resulting from an investigation by the U.S. Justice Department. Its probe concluded that Daimler allegedly bribed officials in at least 22 countries to obtain lucrative contracts, in violation of the Foreign Corrupt Practices Act.

Daimler, one of the world's oldest automakers, does business in nearly 200 countries through subsidiaries and partner companies.

It has already established a global compliance organization, with a consultation desk, and appointed a compliance officer. That officer will report to the new management board member.

Daimler said more initiatives would follow.

"No business in the world is worth violating applicable laws, regulations or ethical standards," said Dieter Zetsche, chairman of Daimler's management board.

From The Detroit News: http://www.detnews.com/article/20100929/AUTO01/9290335/1148/auto01/Germany-s-Daimler-adds-integrity-executive#ixzz10vEIwu8H

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DAIMLER TO ADD 'INTEGRITY EXECUTIVE' AFTER BRIBERY CASE

By Mark Kleis

Daimler AG, parent company to Mercedes-Benz, was found guilty of and fined $185 million for bribery used to secure numerous contracts in multiple countries.

Now, as Daimler aims to repair its image and ensure that nothing of a similar nature happens in the future, the auto group has announced plans to procure a permanent addition to the management board in the form of an integrity executive.

The decision to add the new position was made by the company's supervisory board, and is aimed at creating "a corporate culture that fulfills the highest ethical demands and is regarded as exemplary."

Daimler says it is looking to hire someone externally for the position, likely to remove any chance of criticism given the company's recent past mix-ups. The position will be tasked with 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 Daimler Auto Group.

“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,” said Dr. Dieter Zetsche, chairman of the board of management of Daimler.

Daimler is currently searching for the proper individual to fill the new role, with no announcements regarding possible candidates.

link:

http://www.leftlanenews.com/daimler-to-add-integrity-executive-after-bribery-case.html

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