The Schindler Group believes that its commitment towards its stakeholders not only enables it to act as a good corporate citizen, but will also help to strengthen the organization and underpin its efforts to realize its long-term business objectives. This is reflected by the Schindler Group's extensive supervisory function, which aims to ensure a disciplined approach to all its business activities.
The Board of Directors and the Executive Committee of the Board (one of its four standing committees) are responsible for supervising the Elevator & Escalator Management Committee. They are assisted in their duties by the Audit Committee.
The Executive Committee of the Board uses four key controlling instruments when supervising the Management Committee. These instruments are coordinated by the Audit Committee via the Group Assurance function.
Code of Conduct compliance - verifying and enforcing the Code of Conduct
Technical compliance - verifying compliance with safety-relevant standards and processes in the elevator and escalator business
Internal audits - verifying compliance with rules and processes in business and financial areas
IT security - ensuring the appropriate and constant protection of vital corporate data against internal and external hazards