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Löscher is prioritising ethics compliance, unsurprisingly
- Poulomi Mrinal Saha, 7 September 2007
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- Siemens sacks former head of compliance over bribery scandal
- Siemens on the hunt for international ethics supremo
- Siemens' corruption investigator: Forced out early, was he too good at his job?
- The contrarian – Kleinfeld and Wolfowitz: felled by endemic inertia
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Archive:
Special report: Anti-corruption – Siemens – Restoring Germany’s fallen giant
Siemens has taken steps to salvage its reputation after damaging bribery revelations
German prosecutors are currently questioning a dozen former Siemens employees on breach of trust charges for the misappropriation of funds worth €200 million. For its part, the engineering giant is investigating more than €420 million in suspicious payments. German press reports say the figure could be as much as €1 billion.
Since the allegations broke, Klaus Kleinfeld and Heinrich von Pierer have left their posts of chief executive and chairman respectively.
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Comments:
More transparency and Compliance - Richmond Adjei, 16 Jul 2009
I believe the steps taken by Loscher would be emulated by other industry giants across europe and the rest of the globe. It is always the poor consumer who ends up paying for these grafts that are paid.
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