Governance, Integrity & Compliance
Corporate Governance at TERM
The area of corporate governance represents a system to steer and supervise the company, while striving for management that is responsible, qualified, transparent and focused on the long-term success of the company and protection of the interests of relevant stakeholders. Generally, it is a set of legal and executive methods and procedures that oblige the company to maintain a balanced relationship between itself and its employees. Corporate governance also defines the distribution of rights and responsibilities between relevant stakeholders, such as shareholders, executive management, corporate bodies, employees and customers.
In the area of ethical standards, Škoda Auto adheres, among other things, to the relevant recommendations and rules of the Corporate Governance Code, based on the OECD principles. The aim is to further promote transparency and ethical behavior in the business environment through a continuous improvement of internal processes and procedures in accordance with this code.
Integrity and Compliance
At Škoda Auto, we believe that only honest and reliable conduct in accordance with the integrity and compliance principles is enabling us to strengthen the trust of employees, customers, shareholders, business partners and the general public as well as to secure company’s sustainable economic success. Therefore, these principles are an integral part of the Next Level – Škoda Strategy 2030 next to the quality of the company’s products, its financial goals and customer satisfaction. They are also taken into account in all our decisions and in all our actions.
However, integrity and compliance principles are not limited to business relationships, they apply to all activities inside and outside the company. With this approach, Škoda Auto demonstrates that its conduct will comply with legal and internal regulations, ethical and other rules voluntarily adopted by the Volkswagen Group and Škoda Auto – applying to areas such as, among others, fair competition, finances and tax, prevention of corruption, environmental protection, and relations with employees including the support of equal opportunities, prohibition of discrimination and obliging with human rights.
