Our compliance organization: management and guiding principles

We have established clear structures at the Otto Group to make sure that compliance forms a reliable foundation for all business processes. The Executive Board and our committees lay out the path forward.

 

Compliance is an elementary part of good business management – and thus of corporate governance, too. The entire Executive Board is therefore jointly responsible for compliance at the Otto Group.

The primary body dedicated to compliance at the Otto Group is the Compliance Committee, which is chaired by Petra Scharner-Wolff, member of the Executive Board responsible for Finance, Controlling and Human Resources, and spokeswoman for compliance on the Executive Board. The committee includes, amongst others, representatives of the risk-management functions of the Otto Group. In particular, its members define the compliance management system (CMS) of the Otto Group – such as all necessary measures, structures and processes to guarantee compliance and react appropriately in the event of violations.

The operations of the Compliance Committee are supported by the Compliance Office, the members of which serve as points of contact for compliance related questions at the Otto Group. In addition, the Compliance Office acts as a liaison body to the Group companies. The latter have their own, decentralized compliance organizations aligned with the Group-wide requirements and standards.

The compliance topics are, in turn, owned by a variety of Group departments and are managed by topic coordinators.

Compliance Topics

The Review Board deals with reports of improper behavior and decides what steps should be taken.

Whistleblower System

Identifying, assessing and minimizing risks

Value-oriented management of opportunities and risks is an integral element of the business strategy of the Otto Group. One important instrument for protecting the Otto Group against risk is the risk management system. It helps us to identify and assess the various risks that our company faces, including compliance risks, at an early stage and take corrective or preventive measures. Risk assessments are conducted systematically in all essential Group companies. Risks are recorded in a central system and shared – this is the proactive, transparent and collaborative approach to risk management at the Otto Group.

 

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Do you have questions or feedback?

Send a message to 

Compliance-Office@ottogroup.com.

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