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Special Report: WW BUSINESS STANDARDS
I’m Thomas Wilhelmsen and I comply!
slo, Norway: In 2010, we learned how to do business the right way when we rolled out our governing elements. Now we are continuing that work with a follow up project called WW Business Standards. This is an awareness campaign that will help you make the right choices focusing on our revised Code of Conduct and how to comply with it. ‘Following legal requirements and regulations is a given. It is equally important to comply with our Code of Conduct. Our stakeholders all over the world expect us to and require that we comply. It is a matter of whether or not we will survive in the future. It is just the way of doing business in the WW group,’ says Thomas Wilhelmsen, group CEO. Included in WW Business Standards is a revised Code of Conduct, a new whistleblowing procedure, a revised theft and fraud policy, a new anti-corruption policy and revisions related to competition law.
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Another reason: we want to be a shaper of the maritime industry. Being a shaper means being a forerunner. I believe that a company known for its high ethics and good business standards will have a competitive edge in the long run. Our customers expect it, regardless of where in the world they meet us. I know that ethics and morale differ depending on where we operate, but as a global company we must depend on a common approach to these issues. Simply put, high business standards today will secure our future existence. Last but not least: The WW group has been built up through more than 150 years of hard work by thousands of employees and not least a dedicated family. We use our family name as the main brand of the WW group. The contamination effect of non-compliance would be enormous, with consequences beyond the actual crime. Personally, I do not wish to see the Wilhelmsen name being tainted in this way.’
Q: ‘Exactly why is WW Business Standards important?’ A: ‘There are several reasons. One has to do with how the world is developing. Focus on good business standards and ethics has increased significantly in the past decade. No serious international company can afford to tolerate shady business practices if they want to be competitive and stay in business.
Q: ‘Which are the main focus areas of WW Business Standards?’ A: ‘The main focus is on ensuring we all know what is expected of us to make the right choices and ensuring we achieve the right results, the right way. The awareness campaign will be clear on what to do should we face difficult business situations. Transparency throughout our whole value
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chain is becoming more and more common, so the choices and decisions we make must “stand up to scrutiny” irrespective of where in the world we are.’ Q: ‘One way to uncover potential breaches to the Code of Conduct is by introducing a so-called whistleblowing channel. What is your message to anyone who might feel it necessary to “blow the whistle”?’ A: ‘Personally, I don’t like the word “whistle blower”, as it is often interpreted as containing an element of slander. This is not our intention. What we want is an internal culture where people are free to report unwanted behaviour knowing that it won’t backfire on them. The procedures strengthen transparency and safeguard that the business standards are applied the way they are intended. By knowing where we have potential breaches, we can implement additional procedures or policies if necessary – proactively react to our weak links. By having an open culture, we will continuously improve. I would, however, like to underline that there are guidelines on what to report and how to do so, which we all should follow. Q: ‘Laws and regulations are not the same in every country. How is this reflected in our business standards?’ A: ‘We operate in more than 70 countries, each with its own laws, cultures and norms
for what is acceptable behaviour. There are, however, also international law and regulations, applicable to all the countries in which we operate. Anti-corruption law is one such example. In some countries facilitation payments are regrettably an unavoidable means of securing routine, low-level action and/or approvals, but such payments are a type of bribery and are a breach of existing laws. Knowing that the practice of facilitation payments is a challenge in several countries, we understand that a common approach is difficult. However, it should be crystal clear that we are committed to work towards eliminating such practices. We do not accept money “under the table” or kickbacks. Paying someone for a licence or a contract is a breach of our business standards. Q: ‘Isn’t it correct that a certain “greasing of palms” seems to be a necessary part of operating in some communities?’ A: ‘We realise that culture and customs vary all over the world. Exchanging gifts between the yard and owner when a new ship is delivered is a tradition, and completely acceptable. However, receiving or giving gifts to obtain something for own or the company’s benefit is not. We’ve seen many examples of people approaching us offering a contract, provided that we sponsor activity charity organisation. This is not acceptable. Likewise, it is
not acceptable to receive a private trip or private favours in exchange for signing a contract or making a business deal. If you’re in doubt about receiving or giving a gift, you should always consult your manager. I expect all our employees to familiarise themselves with our Code of Conduct and related policies and act accordingly. Q: ‘Without exception, even in parts of the world where operations might become very difficult if you don’t comply with “local tradition?” A: ‘We decide where we want to get involved, and choose to operate in areas where we can control our governance, based on our values and WW Business Standards. So the answer is yes. Our Code of Conduct and way of doing business is not something we can turn on or off at will. It is just how we do business.’ Q: ‘WW Business Standards is to be launched globally in August. In what way does this project differ from former practice?’
A: ‘The WW Business Standards initiative is building on a culture we already have established and should be operating according to. The world is however changing fast and law requirements and customers’ expectations are becoming stricter by the day. The revised documents are aligned with new laws and regulations. We will continuously update our governing documents to ensure we operate in an ethical and compliant way and not least to make sure we all know what is expected of us to operate in a compliant and ethical way. Q: ‘So if a GM somewhere was to approach you and say that “I can’t do business here unless I can spend a certain amount on “easing our way?” What would your answer be?’ A: ‘My answer would be no. We will take good care of our customers and walk the extra mile for them if necessary. But we do that by delivering the best possible product or service. Simply put – we achieve the right results the right way at a business standard that can stand any news front page in the world!’
We can all do our part to ensure that we are living up to our WW Business Standards. Group CEO Thomas Wilhelmsen WWWORLD 2 2014 13