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Compliance strategy

Our “Compliance 2020” strategy was initiated in the 2013/2014 fiscal year. Its aim is to embed compliance more extensively and sustainably throughout the Group.

To this end we continuously optimize our global training programs, promote the deeper integration of compliance into our business processes, and expand our targeted communications.

In recent years the integration and establishment of measures relating to anti-money laundering, data protection, and the Italian compliance law 231/01 was the focus of our compliance activities. In relation to other topic areas – such as occupational safety and environmental protection – the Compliance function has taken on the role of advisor, coordinator, and consolidator. Responsibility for content in these areas remains with the competent corporate functions and business areas. The Compliance team provides support and advice and ensures uniform reporting to the Executive Board.

stratey main targets

Compliance program further developed on a risk-oriented basis

In the 2013/2014 fiscal year we carried out a Groupwide bottom-up risk assessment. Based on a detailed questionnaire the Compliance team analyzed objective risks, mainly in the areas of antitrust law and corruption prevention, and the degree of implementation of the compliance program at the Group companies. In a second step, workshops were held at over 100 Group companies, in which measures were developed to address the risks identified.

The results of the risk analysis enable compliance activities to be managed in a very targeted and efficient way, both at Group level and in the regions. The business areas can include the results of the analysis in their strategies and manage their business activities on a risk-oriented basis. At operating level, the responsible officers can focus more on risk aspects in day-to-day business and reduce compliance risks.

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