Siemens Promotes Company Insider to Compliance Chief -- Update
April 30 2021 - 4:21PM
Dow Jones News
By Mengqi Sun
Siemens AG has promoted an internal lawyer to oversee the
company's global compliance organization, the company said
Friday.
Annette Kraus, 45 years old, has been named chief compliance
officer of the German industrial company. She succeeds Martina
Maier, who is leaving the company for personal reasons, the company
said.
Ms. Kraus, who takes on the role effective Saturday, will bring
her years of expertise in compliance to the position, the company
said. She joined Siemens in 2009 and most recently served as the
chief counsel compliance and head of the global investigation team,
after serving in a variety of the company's compliance management
positions. She worked as a compliance adviser before joining
Siemens, according to a statement from the company announcing her
appointment.
"Annette Kraus has demonstrated her ability very successfully in
a wide variety of positions at Siemens for more than ten years,"
Andreas Hoffmann, general counsel and head of the legal and
compliance department at Siemens, said in the statement.
The German company has faced ongoing legal challenges in
connection with alleged compliance violations in countries such as
Israel and Brazil, according to the company's 2020 annual
report.
Siemens listed current and future investigations regarding
allegations of corruption, antitrust violations and other possible
violations as a compliance risk factor in the annual report.
The company in 2008 pleaded guilty to violations of and charges
related to the Foreign Corrupt Practices Act over allegations that
the company bribed government officials in various countries to win
contracts, according to the U.S. Justice Department. Siemens agreed
to pay a $448.5 million fine as part of the plea agreements. The
company also resolved similar charges with the Munich Public
Prosecutor's Office, according to the Justice Department.
"Any findings related to public corruption that are not covered
by the 2008 and 2009 corruption charge settlements, which we
concluded with U.S. and German authorities, may endanger our
business with government agencies and intergovernmental and
supranational organizations," the company said in its 2020 annual
report.
Siemens has also been monitoring and taking into account
possible compliance risks in connection with the Covid-19 pandemic,
according to its 2020 sustainability report.
"Our integrity is not up for negotiation," Joe Kaeser, Siemens's
chief executive, said in the sustainability report. "Compliance
with the law will always be the basis of all our business."
Write to Mengqi Sun at mengqi.sun@wsj.com
(END) Dow Jones Newswires
April 30, 2021 16:06 ET (20:06 GMT)
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