Integrity as one of our four corporate values forms the basis of our business activities. Compliance which means adhering to rules is an essential prerequisite for this.
Compliance and legal responsibility
Value-based compliance is an indispensable part of our daily business activities at Daimler. For us, compliance means acting in accordance with laws and regulations. Our objective here is to ensure that all of our employees worldwide are always able to carry out their work in a manner that is in compliance with applicable laws, regulations, voluntary commitments and our values, as set out in binding form in our Integrity Code.
Our compliance activities focus on
- respect for and the protection of human rights,
- complying with all applicable anti-corruption regulations,
- the maintenance and promotion of fair competition,
- adherence to legal and regulatory stipulations regarding product development,
- adherence to data protection laws and responsible handling of data,
- compliance with sanctions lists,
- the prevention of money laundering.
Our compliance and legal organizations are designed to ensure that they can advise and support all of our corporate units worldwide with regard to their business operations, processes and services in order to minimize legal and business risks.
The compliance organization is managed by Chief Compliance Officer Olaf Schick. He reports directly to the member of the Board of Management for Integrity and Legal Affairs and to the Chairman of the Audit Committee.
Our Compliance Management System
Our Compliance Management System (CMS) is designed to prevent inappropriate or illegal behavior by Daimler and its employees, and our culture of integrity serves as the foundation for this approach.
Our Compliance Management System (CMS) consists of basic principles and measures intended to promote rule-based behavior throughout the company. The CMS is based on national and international standards and applies on a global scale at all Daimler AG units and majority holdings. The CMS consists of seven elements that build on one another.
We systematically pursue the goal of minimizing compliance risks, and we analyze and assess the compliance risks of all our business units every year. These analyses are based on centrally compiled information on all business units. The results of the analyses form the basis of our risk control.
To ensure and promote compliance, managers and employees receive extensive training in our global training program for integrity and compliance. This gives employees the tools for making right decisions in difficult situations while minimizing risks. In 2018, a total of approximately 220,000 participants from various levels of the hierarchy took part in classroom and web-based training programs.
Every year, we review the adequacy and effectiveness of our Compliance Management System and adapt it to new legal requirements. Thus we continuously improve it.