Integrity plays an important role in the Schaeffler Group’s business activities, which need to comply with the company’s values of sustainability, innovation, excellence, and passion at all times.
Clearly defined areas of responsibility and rules as well as transparent processes are a cornerstone of the Schaeffler Group’s success. To ensure proper behavior in line with values and standards, the company established a group-wide compliance management system.
Governance responsibilities include the monitoring and management of relevant business risks as well as compliance with the company’s due diligence. Implementation of a responsible tax strategy and development of crisis management are also integral parts of the Schaeffler Group’s corporate governance. In the reporting year, this crisis management also entailed implementation of coronavirus protection measures at Schaeffler locations around the world.
The company is involved in a variety of initiatives and associations. Dialog with stakeholders should promote the exchange of ideas and a shared understanding of sustainability, with the aim of developing effective solutions.