While it is good to see Daimler take compliance seriously and appointing a senior executive to the post, they should not mistake what they are doing.
Is this really going to reinforce the ethical behaviour of this company?
Appointing a lawyer implies that the company´s legal position will be covered, which is a minimum but not a sufficient requirement for an ethical policy.
Likewise, appointing an accountant or auditor implies a box-checking attitude but also not a sufficient requirement for an ethical policy.
Companies need to ensure that they are really addressing their ethical policies and issues, and not just providing box-ticking or legalistic responses.
Onésimo Alvarez-Moro
See article:
Daimler AG said Monday it has created the position of chief compliance officer and appointed Gerd Becht to the role from March 1.
Becht joined Daimler in June 2006 from General Motors Corp.'s European division, and has been vice president of Daimler's legal department since then.
In a statement, Daimler described the decision as "a further step" towards strengthening its self-control in order to ensure ethical corporate governance.
In November 2006, the company suspended several executives at its bus operations due to what it described as "irregularities" identified during an internal routine investigation.
In addition, the U.S. Department of Justice and the U.S. Securities and Exchange Commission have been investigating the company for several years over allegations of illegal business practices.
See full Article.
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