The Group Ethics & Compliance Officer

The Group Ethics & Compliance Officer heads the group wide Ethics & Compliance function and shall support the President and CEO and the Board of Directors in ensuring that the Code of Conduct sets the appropriate standards and that these standards are implemented and enforced. The Code of Conduct sets a high ethical standard, promotes responsible business practices and reflects relevant laws, regulations and widely recognised treaties.

The accompanying Ethics & Compliance framework defines a set of design requirements that are vital to the effectiveness of the Ethics & Compliance function. The framework contributes to high quality and consistency in the handling of Compliance Incidents. It also contains a common model for disciplinary actions aiming at a uniform practice across the Group.

The Group Ethics & Compliance Officer reports functionally to the Ethics & Sustainability Committee of the Board of Directors and administratively to the Group Corporate Affairs Officer.

In June 2015, the Board endorsed a new and enhanced group wide Ethics & Compliance organisation. The role of the Ethics & Compliance Officer in large Business Units has been turned into a full-time position while each small Business Unit has an Ethics & Compliance Advisor with a clearly defined, but limited scope. To enhance support and supervision, there is now a solid functional reporting line from the local Ethics & Compliance Officer in large Business Units to the Group Ethics & Compliance Officer.