This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Daimler AG To Create New Board Of Management Position For 'Integrity And Legal'

STUTTGART, Germany, Sept. 28 /PRNewswire-FirstCall/ --

  • Supervisory Board decides to expand the Daimler Board of Management
  • Daimler's goal is a corporate culture that fulfills the highest ethical demands and is regarded as exemplary
  • Further initiatives to strengthen compliance activities will be implemented successively
  • Dr. Manfred Bischoff: " Compliance and integrity are extremely important to the Daimler Group and we intend to set new standards in this respect. This is why we have decided to create a dedicated Board of Management position for Integrity and Legal. "
  • Dr. Dieter Zetsche: " The new Board of Management position is a consistent step in the further development of our corporate structure and culture. No business in the world is worth violating applicable laws, regulations or ethical standards. "

Daimler AG is to create a new Board of Management position for "Integrity and Legal." The Supervisory Board today passed a resolution on the expansion of the Board of Management. The new position will be filled externally. The new Board of Management member's tasks will include managing the global Legal and Compliance Organization and the related processes, as well as business ethics and the sustained anchoring of compliance and integrity throughout the Group.

(Logo: http://photos.prnewswire.com/prnh/20080409/NYW017LOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20080409/NYW017LOGO)

As a matter of principal, Daimler aims to create a corporate culture that not only fulfills the requirements of applicable law, but also meets the highest ethical demands and is regarded as exemplary throughout the industry. To achieve this goal, Daimler will successively take further initiatives in addition to establishing this new Board of Management position.

"Compliance and integrity are extremely important to the Daimler Group and we intend to set new standards in this respect. Another aspect is that the requirements placed on a globally active company by regulations and legislation are constantly becoming stricter and more complex. This is why we have decided to create a dedicated Board of Management position for Integrity and Legal. We already have a clear idea on how to set up the position," stated Dr. Manfred Bischoff, Chairman of Daimler's Supervisory Board.

"On the subject of compliance, we follow the same principles we apply in our business: to be pioneering with innovations in our industry. To do so, on the one hand we are now creating the organizational and structural basis. On the other hand, we will continue to consistently prioritize integrity as a key element of our corporate culture. No business in the world is worth violating applicable laws, regulations or ethical standards," stated Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler.

"The new Board of Management position is a consistent step in the further development of our corporate structure and culture. At the same time, it is and it will remain the task of the entire Board of Management and of all executives to permanently anchor throughout the Group a keen awareness of adherence to the law and regulations, as well as for business ethics," continued Dr. Zetsche.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,186.66 +212.35 1.25%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1250 +16.8990 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs