Boards while they are performing their activities. The insurance
contract
stipulates a deductible of 10 % of the dam-
ages, but a maximum of one-and-a-half times the amount
of the fixed annual compensation of the respective mem-
ber of the Management or Supervisory Board per insurance
year. Further information on the compensation of the Management
and Supervisory Boards can be found on page 60 ff.
of the online Consolidated Financial Statements.
Compliance
The trust of our business partners and customers, as well
as the public, in the lawful and responsible behavior of the
ALTANA Group and its employees is decisive for the suc
cess and reputation of the company. Compliance therefore is
very important for ALTANA.
ALTANA’s Code of Conduct, which holds for the en
tire company, contains binding rules regarding responsible,
ethical, and lawful behavior for all staff members. This
applies in particular to issues such as antitrust law, environmental
protection, safety, corruption, and discrimination.
Together with the company’s Guiding Principles, the Code
of Conduct provides orientation for responsible corporate
action. The Code of Conduct and the Guiding Principles are
published on our website (www.altana.com). Since 2010,
ALTANA’s employees have been trained with the help of an
e-learning program regarding the content of the Code of
Conduct and further issues relevant to compliance such as
corruption and bribery, as well as competition law issues.
In 2016, 439 staff members worldwide took part in such training
programs.
The Compliance Management System aims to help ensure
compliance within the Group. In keeping with ALTANA’s
structure,
it is decentralized. ALTANA has established a
Compliance
Committee with people responsible for the different
compliance areas that provides a framework, makes
competencies
available, and creates forums and platforms
for local managers responsible. It also calls for concrete
measures to be taken to ensure compliance and establishes
minimum standards. The Compliance Management System
includes the ALTANA Compliance Hotline that gives employees
the opportunity
to report illegal behavior, if need be,
anonymously and regardless of levels of hierarchy. The Internal
Audit department is also part of the Compliance Management
System. In 2016, specially developed compliance
tests were carried out for the first time.
ALTANA joined the U.N. Global Compact initiative,
whose members are voluntarily committed in their corporate
policy to adhering to social and environmental standards
as well as the protection of human rights. By joining Global
Compact, ALTANA has not only acknowledged its principles
but also shown a general commitment to support and
promote overall U.N. aims.
Corporate Governance 11