ThyssenKrupp AG (TKA), Germany’s largest steelmaker, will introduce a temporary amnesty for some workers to spur them to disclose any breaches of antitrust or corruption laws and internal rules after recent violations at the company.
The program lasting to June 15 follows “serious compliance violations in recent times which have caused huge damage to the group’s image” and exempts workers from punishment if they cooperate, the Essen-based company said today in a statement.
The amnesty won’t apply to management board members of the group and individual business areas, nor the heads of operating units and group companies. “For legal reasons,” a separate solution will apply to employees of units in the U.S.
ThyssenKrupp last year ousted three board members to help repair a boardroom tainted by corruption allegations. An antitrust watchdog raided the company’s offices in Duisburg in February. That added to the company’s involvement in an elevator cartel and a suit for damages by Germany’s state-owned railway operator over alleged fixing of prices for rails by ThyssenKrupp and two peers.
“The question is whether this will provide additional information,” Hans-Peter Wodniok, an analyst at Fairesearch GmbH & Co KG, said by phone from Kronberg near Frankfurt.
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