Corporate Management and Compliance

The confidence of our customers, investors and employees is key to our ability to achieve sustainable growth and to increase company value. We strengthen this confidence through responsible corporate management. Corporate governance and compliance are therefore high priorities at Leifheit. The German Corporate Governance Code (Deutsche Corporate Governance Kodex – DCGK) describes compliance as the Board of Management’s responsibility for ensuring observance of legal and company-internal requirements, and working towards adherence. Because the company must also comply with legal and administrative regulations regarding data protection, that subject is also covered by the section on compliance.

 

 

CMS aims to ensure behaviour in line with the regulations

 

Our compliance management system (CMS) includes basic guidelines and measures aimed at ensuring behaviour in line with the regulations at the company. It should assist our employees in observing the binding laws and regulations that apply to their work, along with recognised standards, recommendations and our own guidelines.

Behaviour in line with the regulations is both a key basic principle for Leifheit and the goal of commercially responsible conduct. The Board of Management and the management team of Leifheit are committed to compliance as a leadership duty. Operational responsibility (compliance officer) lies with the HR/Legal/IP division.

 

 

Guidelines and measures

 

Our CMS includes guidelines and measures that reduce compliance risks and prevent violation of regulations and laws. Its principles and standards of conduct have been in place for years and are part of the day-to-day business routine. All compliance guidelines are available to Leifheit Group employees in at least German and English. The key guidelines are also available in Czech, French and Chinese language versions. As part of their duty to set an example for others, Leifheit managers are instructed to impart and model the compliance policies for their employees. Managers are responsible for ensuring that our guidelines are followed.

A concept that provides our employees with regular training on our compliance principles through online e-learning modules was also developed. In 2019, approximately 70% of employees at the German locations completed compliance training. We will continue to intensify our training an communication measures in the future.

We have established a whistle-blower system to give our employees and third parties the opportunity to safely pass along tip-offs to an ombudsman if they suspect or have evidence of potential legal violations at the company. An online communication platform, Integrity Line, has been available to whistle-blowers, along with the option to submit reports to the ombudsman in person. Compliance violations are not tolerated, and all indications of misconduct are followed up

You will find further information with regards to Compliance Management at our Sustainability report.

 

 


Statutory declaration of corporate management

The statutory declaration of corporate management in accordance with sections 289f and 315d German Commercial Code (HGB) includes the declaration of conformity with the German Corporate Governance Code, the explanation of our corporate management practices, the description of the work methods of the Board of Management and the Supervisory Board, as well as the composition and work methods of their committees, the information on the defined targets according to the German law on the equal participation of women and men in leadership positions and the description of the diversity concept.