Governance and organization
The Board of Management and Executive Committee are responsible for an effective compliance management framework across all AkzoNobel group entities, and for maintaining an integrity culture which supports long-term value creation. The Audit Committee supervises this responsibility on behalf of the Supervisory Board.
Corporate Compliance committees
The Executive Committee has appointed four corporate committees to oversee our compliance efforts: the Corporate Compliance Committee, the Sensitive Country Committee, the Human Rights Committee and the Privacy Committee. These committees consist of senior leaders from different disciplines in the organization, and meet on a quarterly basis. They each establish, monitor and assess the frameworks for which they are responsible. Their composition and responsibilities are explained on our corporate website.
Business Unit/Function committees and officers
Business and functional leadership is responsible and accountable for running business operations compliant with laws and company rules. Each business unit and large function has a Compliance Committee chaired by its Managing Director, and has appointed a member of its management team as its Compliance Officer. This committee plans to meet quarterly and is responsible for risk assessment and mitigation, implementation of compliance programs, ensuring employees are educated and for disciplinary measures in the event of violation of company rules. The Compliance Officer manages this on a day-to-day basis.
The Compliance function, led by the Compliance Director – reporting to the General Counsel – manages the compliance framework on behalf of the corporate compliance committees mentioned above. The Compliance function hosts the Codes of Conduct and Directives Portal, develops and communicates rules and guidance, manages the compliance training program, facilitates risk assessment, performs compliance due diligence, manages investigations, facilitates compliance self-assessment and reports on compliance to senior leadership. Its legal experts in the field of competition law, export control, anti-bribery, privacy and human rights provide legal advice, training and support. Its Compliance Managers support the BU/function Compliance Officers in managing the day-to-day compliance operations in the businesses and functions.
The effectiveness of the Compliance framework is audited by the Internal Audit function. Following investigations, Internal Audit may also be engaged to conduct additional reviews to establish root causes.