The Schindler Group was informed in the evening hours of 18 December 2019 that one of its former employees in Israel might be indicted by the Israeli competition authority. There is no formal investigation against Schindler Nechushtan, our local subsidiary.
The Company is fully cooperating with the local investigating authority.
Based on the nature of the suspicions and related Israeli law, the maximum financial exposure of the Group would be limited to 4.5 million Israeli Shekels (CHF 1.3 million) and would therefore not be material for the closing 2019.
The Schindler Group has an extensive Code of Conduct which is strictly enforced worldwide. Together with Safety, our Code of Conduct represents the core values of the Schindler Group.