ThyssenKrupp Offers Amnesty in Anti-corruption Drive

Heavy industry giant ThyssenKrupp (IW1000/75), rocked by a slew of corruption scandals, said Tuesday it will not prosecute or fire employees involved in any wrongdoing if they cooperate in uncovering the malpractices. “For employees who disclose compliance matters voluntarily, truthfully and fully … and who cooperate unreservedly in investigating them, the executive board promises that it will not assert or enforce damage claims,” the company said. “Subject to this condition, the information provided in this connection will also not be used as a reason to unilaterally terminate the employment of the disclosing employee.” ThyssenKrupp, long regarded as one of the emblems of Germany’s technological prowess, has seen its image tarnished recently in the wake of a series of corruption allegations, including a price-fixing cartel, luxury trips laid on for journalists and alleged bribery in contracts in eastern Europe and China. Last month, the group’s supervisory board chief Gerhard Cromme quit over his handling of the scandals as ThyssenKrupp battles to clean up its image. More…

News selected by Covalence | Country: Global | Company: ThyssenKrupp  | Source: IndustryWeek