The nonfinancial issues and aspects of corporate governance, compliance, anti-corruption and bribery matters, compliance with antitrust law and the respect for human rights are outlined below. All of the above points have responsibility and risk minimization in common.
As a global enterprise with an approximately 130-year history, Vossloh has a social responsibility toward its customers, employees, partners, investors and the public. This corporate responsibility includes the Company and its employees adhering to the laws as applicable, respecting basic ethical values and acting in an exemplary fashion at all times and in all scenarios.
As a German stock corporation, Vossloh AG has a dual management and monitoring structure as reflected in the two bodies the Executive Board and the Supervisory Board. Both bodies have an obligation toward the Company’s well-being and the interests of the shareholders. As a third body, the Annual General Meeting is responsible for important fundamental decisions made by the Company.
Preventing violations of the law of any kind, in particular corruption and anticompetitive behavior, is a key concern of the Vossloh Executive Board for the entire Group. The Executive Board of the Vossloh Group has established a Compliance Management System. The Vossloh Group’s Rules of Procedure of the Compliance Organization govern the Compliance Organization, the assignment of responsibilities to officeholders and the reporting duties of all the different company levels.The Vossloh Compliance Organization comprises the Chief Compliance Officer (supported by a Compliance Office), the Group Compliance Committee at Vossloh AG, Compliance officers and Compliance Committees within the business units and local compliance officers within the operating companies.
Compliance as part of business activities constitutes part of regular classroom training held at all the Vossloh companies. The teaching requirements and the participants are identified and selected by the Compliance Officers within the business units and the local Compliance Officers on the basis of the Vossloh compliance training concept. The Compliance Office headed by the Chief Compliance Officer keeps a record of the classroom training sessions held. Compliance training is also given in the form of e-learning.
Vossloh respects internationally recognized human rights in its business activities and these are codified as binding rules for all the employees As a global concern, Vossloh actively promotes diversity within its workforce and intercultural learning for its employees. In 2017, the Company employed men and women from almost 40 countries and with a wide range of qualification levels, education levels, vocational training paths, career experience and service years within all of its hierarchical levels. To minimize the risk of child labor, the Company does not employ anyone under the age of 14 or 15 (depending on the legal provisions in the different countries). In addition, the majority of Vossloh’s production facilities is located in Europe. Employees under the age of 18 are usually trainees. The instructors responsible for them are duty-bound to observe all the relevant labor law and occupational safety rules and provisions. The various Vossloh companies subject their suppliers and intermediaries to intensive preliminary checks before concluding a contract with them.