3. Management and employees at Voith


Productivity and humanity must go hand in hand to ensure sustained success in an enterprise. Voith’s economic success is dependent on the help and co-operation of its employees worldwide.

3.1 Leadership and trust
All of our employees are required to adhere to this Code, and our management personnel must set an example. Voith cultivates an atmosphere of trust in which its managers are responsible for providing sufficient supervision to prevent any violations of the Code.

3.2 Tolerance and equal opportunities
Voith respects human rights worldwide. As a company with a global reach it works with employees and business partners of many different nationalities, cultures and customs. It does not tolerate unequal treatment (discrimination), harassment or degradation in violation of the law. In particular, it does not tolerate discrimination on account of race, ethnic origin, gender, religion or worldview, political opinions, age or gender identity.

3.3 Fair working conditions
Voith gives its employees fair pay and provides fair working conditions in compliance with all statutory requirements. It rejects all forms of forced labor and child labor, and it will not obstruct lawful employee representation.

3.4 Avoidance of conflicts of interest
It is important to Voith that its employees do not have conflicts of interest or loyalty in the course of their work. Such a conflict can occur if, for example, there are business transactions between Voith companies and employees or members of their families. Any such transaction must be disclosed in advance to the employee’s superior.

3.4.1 Outside employment
If an employee intends to take up gainful work on the side, he or she must obtain written consent from his or her manager. For managers, written consent must be obtained from the Advisory Board and Human Resources.

3.4.2 Political activities
Voith does not participate in activities involving political parties. However, under no circumstances will it deter its employees from taking part in appropriate political activities during their nonworking hours. We expressly welcome our employees’ involvement as citizens in the affairs of society and their participation in social and charitable activities. Employees who are engaged in such activities do so as private individuals. We expect them to make sure that there are no conflicts of interest with their work.

3.5 Protection of assets
Voith requires its employees to protect the tangible and intangible assets of the company. These assets include property, production equipment and inventory stocks; securities and cash; office equipment and supplies; information systems and software; and patents, trademark rights and know-how. Violations of the law such as fraud, theft, embezzlement and money laundering will be prosecuted. With regard to acceptance of business risk see Corporate Guideline 03/01 (Risk Management and Quality Management). Machinery and equipment may only be used for work-related purposes unless private use is expressly permitted. Internet users must take care not to retrieve or transmit any information that could incite racial hatred, glorify violence or other crimes, or have an offensive content.

3.6 Use of information
We expect employees to take appropriate care when using company information.

3.6.1 Confidentiality
Confidentiality must be maintained concerning in-house matters that have not been disclosed to the public. This also applies to inventions and other kinds of know-how. These are essential to the long-term success of the Voith Group. Employees must therefore not pass information about new discoveries or company secrets in any form to third parties. This also applies after termination of employment.

3.6.2 Privacy and information security
The global electronic exchange of information is essential for effective work and business success in general. But besides having benefits, electronic communication can pose risks to privacy and data protection. Official documents and data storage media must therefore be protected from access by third parties at all times. Both managers and employees must take effective protective measures against these risks, and this is an important component of IT management.

Details are contained in Corporate Guideline 01/03 (Privacy and IT Security).

3.6.3 Insider knowledge
It is not permissible to derive personal advantage or advantages for others through the use of in-house knowledge. The same applies to unauthorized disclosure of such knowledge.

3.6.4 Correct reporting
When making oral or written reports for in-house or external use, employees are obligated to state the truth. Manipulation of content is prohibited.

3.7 Occupational safety, health, environmental protection and sustainability
Voith makes every effort to protect the life and health of its employees and deal responsibly with resources and hazardous materials. All employees must avoid hazards in the workplace, minimize harm to the environment and use resources economically. In developing and manufacturing our products we adhere to the principles of sustainability and environmental compatibility.

Details on environmental protection are contained in Corporate Guideline 01/02, and details on health and occupational safety are contained in Corporate Guideline 01/06.

3.8 Quality
The market success of our products and services is inseparably linked with their quality. Our motto “Engineered Reliability” demands maximum creativity, skill and care on the part of our employees and demonstrates to our customers and third parties that we maintain high standards.

We will not tolerate deliberate or negligent conduct that results in diminished quality.