AMM.com Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5


TK tightens regulations for anti-corruption compliance

Keywords: Tags  ThyssenKrupp, Ulrich Lehner, anti-corruption, anti-competition, steel, Elfi Middelbeek


LONDON — ThyssenKrupp AG is tightening its policies regarding compliance with external and internal requirements on anti-competitive practices and anti-corruption laws, the company said April 16.

The German steelmaker has appointed an ombudsman and instituted a temporary amnesty program for employees who disclose information.

Under the amnesty program, employees who reveal information on violations of such practices or internal compliance policies before June 15 won’t be held accountable for past malpractice.

To employees who disclose the breaking of compliance rules "voluntarily, truthfully and fully by this deadline, and who cooperate unreservedly with the company in investigating them, the executive board of ThyssenKrupp promises that it will not assert damage claims relating to past misconduct," the company said.

The program will only cover non-time-barred compliance issues and excludes executive board members, area management board members, heads of operating units and managing directors of subsidiaries.

The program also excludes employees in the United States, where different laws apply.

The Essen-based company elected Ulrich Lehner chairman of its supervisory board in March. ThyssenKrupp’s offices were searched by Germany’s federal cartel office in February on allegations of anti-competitive agreements related to automotive steels (amm.com, March 20).

The steelmaker dismissed three board members alleged to be involved in a range of compliance cases at the end of 2012.

A version of this article was first published by AMM sister publication Steel First.


Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.



Latest Pricing Trends