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Company News, 2013-04-16, 10:20 AM

ThyssenKrupp to intensify compliance activities

ThyssenKrupp is in the middle of a major change process. As a diversified industrial group, its goal is to focus the company even more firmly on the markets of the future. With its Strategic Way Forward ThyssenKrupp is concentrating on three key areas – portfolio optimization, culture change, and a stronger performance orientation. ThyssenKrupp’s mission statement expresses the values the Group stands for, among them that compliance is a must.

Overall ThyssenKrupp is making good progress in these areas. But despite considerable efforts to communicate a shared understanding of values, there have been a number of serious compliance violations in recent times which have caused huge damage to the Group’s image.

ThyssenKrupp has therefore decided to further intensify its compliance efforts. In addition to external support for the compliance organization from the law firm Noerr and the establishment of an ombudsman, Dr. Dietrich Max from the law firm Taylor Wessing, ThyssenKrupp has introduced a temporary amnesty program for certain employees under the direction of the chief compliance officer which will run until June 15, 2013.

For employees who disclose compliance matters (violations of anti-competition and anti-corruption laws or the related internal compliance policies) voluntarily, truthfully and fully by this deadline, and who cooperate unreservedly with the company in investigating them, the Executive Board of ThyssenKrupp AG promises that it will not assert/enforce damage claims relating to past misconduct. Subject to this condition, the information provided in this connection will also not be used as a reason to unilaterally terminate the employment of the disclosing employee.

The amnesty program is restricted to non-time-barred compliance matters and applies to employees of ThyssenKrupp AG and its subsidiaries worldwide. The program does not apply to the Executive Board members of ThyssenKrupp AG, business area management board members, the heads of the operating units, and the managing directors of Group companies. For legal reasons, a separate solution will apply to employees of Group companies in the USA.

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