Governance, Integrity & Compliance

The area of ​​corporate governance represents a system to manage 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 entities. Generally, it is a set of legal and executive methods and procedures that oblige a company to maintain a balanced relationship between itself and its employees. Corporate governance also defines the distribution of rights and responsibilities between relevant entities, 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 OECD principles (hereinafter the Code). The aim is to further promote transparency and adherence to ethical behavior in the business environment through the continuous improvement of internal processes and procedures in accordance with the Code. Škoda Auto's own corporate culture and policy is based mainly on the principles defined in the Škoda Auto Group Code of Conduct. The adopted Code of Conduct is based on generally accepted social values.

At Škoda Auto, we believe that only honest and reliable conduct in accordance with the principles of integrity will enable us to gain and strengthen the trust of employees, customers, shareholders, business partners and the general public. Acting in accordance with the principles of integrity is therefore an integral part of the Next Level - Škoda Strategy 2030 and is as important to Škoda Auto as the quality of its products, financial goals and customer satisfaction. One of the tools for raising awareness among Škoda Auto employees and management about the topic of integrity and its importance for business activities is also the Together4Integrity program. This includes, among other things, initiatives that contribute to making society an example in acting in accordance with the principles of integrity. That integrity is one of the main principles of our business is also proven by the fact that it is one of the criteria for decision-making by the company's board of directors. All proposals submitted to the company's Board of Directors must therefore contain the opinion of the relevant department of the company on how the decision contributes to the fulfillment of the principles of integrity and compliance principles or whether there are potential risks associated with them.

You can find more information on integrity at the Volkswagen Group on the following page: https://www.volkswagenag.com/en/sustainability/integrity.html.

If you have any questions regarding the integrity topic you can contact us via email: integrity@skoda-auto.cz