Compliance
Purpose & Objective
The organization of compliance at Daimler
Our goal is to institutionalize all activities that aim to safeguard compliance. In addition, the issue of compliance is to be firmly anchored at Daimler as an important pillar of our entrepreneurial actions. The Company has introduced the Compliance Committee as direct Board of Management representation on all compliance issues.
It is composed of high-ranking and experienced executives from the departments Legal, Corporate Audit, Finance & Controlling, Financial Services, Human Resources and Sales, and generally meets once a quarter.
The Compliance Committee approves and controls the implementation and execution of our Ethics & Compliance Program. It monitors and secures the systematic integration of compliance aspects in the Group’s business processes. In addition, the Compliance Committee approves all of the Group’s compliance-related guidelines.
Also at the beginning of 2006, we created the new department of Corporate Compliance (CCO). This department has developed the Group-wide compliance organization. It coordinates and implements the measures decided upon by the Compliance Committee and supports the departments so that the relevant policies and guidelines are adhered to.
The appointment of a Chief Compliance Officer represents another major step in strengthening Daimler’s standards for business processes, internal controls and corporate governance. This newly created and upvalued position is at the Senior Vice President level directly under that of the Board of Management.
