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Siemens recently announced that Daniel Noa has been named Siemens' chief compliance officer, effective January 1, 2007. The Compliance Office has also been moved into the legal department to enable closer cooperation with the financial audit department. This provides direct access to all the resources needed to clear up relevant cases.
Noa, formerly a senior public prosecutor in Stuttgart, Germany, established the compliance department of the Trust Agency (Treuhand) in Berlin. He intermittently managed substantial white-collar crime cases for over twenty years at the white-collar crime prosecution unit in Stuttgart.
"Siemens has zero tolerance for irregular or illegal conduct, and we are further strengthening our compliance department. Beyond that, we are expanding our internal control systems," said Klaus Kleinfeld, president and chief executive officer of Siemens AG. The new organizational structure of the Compliance Office conforms with the first recommendations made by independent external consultants.
The Compliance Office is the main point of contact at Siemens for the Munich Department of Public Prosecution. Siemens also recently installed an external ombudsman whom employees, as well as third parties, can contact anonymously if they suspect a case of misconduct. The Audit Committee of the Siemens AG Supervisory Board has also commissioned the renowned law firm Debevoise & Plimpton LLP to conduct an independent external investigation. Its tasks are to uncover and track specific violations and then systematically close any possible gaps in the regulations, structures, and processes of Siemens.