Compliance

An example are the regular training courses in antitrust law that have been held since 2002. A major step was the introduction of a Code of Conduct that went into effect in 2009. All Group managers were required to ensure that their areas were in compliance with legal and company standards. An e-learning program on antitrust law alone was completed by more than 4,500 people who also took the final exam.

Strong internal and external signal

In 2011, voestalpine again intensified compliance activities. A Group-wide compliance organization was set up and employees underwent extensive training in external and internal rules of conduct. The main focus was on protecting free competition (antitrust law) and corruption prevention. Group guidelines were issued that included regulations on dealings with business brokers and advisors, acceptance and giving of gifts, and sponsoring.

Group-wide compliance structure

voestalpine views compliance as all-encompassing. The compliance organization set up by voestalpine stipulates that there be a Compliance Officer at the Group level and in each Division. The Compliance Officers acts as the internal contact for all matters and questions related to “Rules of business conduct”. There are now two ways to report suspected compliance breaches. They can be reported to the usual contacts, e.g. a superior, Managing Director, HR department, legal department, and works council or they can be entered in a new web-based whistleblower hotline. The whistleblower hotline also allows anonymous reporting of breaches.