Conflict of Interest
KONE expects its employees to be loyal and to make business decisions in the best interest of KONE. KONE employees must avoid all conflicts of interest, i.e. situations where their personal interests may be or appear to be in conflict with those of KONE. A conflict of interest may occur, for example, when:
- a close relative of an employee is a supplier, customer or competitor of KONE, or an employee of such a company
- an employee or a close relative of an employee has a material interest in a company that does business with KONE
- an employee has outside employment or other activities with a company that competes or does business with KONE
- an employee has a personal relationship with a colleague in a direct or an indirect managerial or subordinate position
- an employee seeks to improperly further the interests of a friend or relative.
KONE employees must disclose all potential and actual conflicts of interest in writing to their supervisor and the local HR department.
Outside Employment and Board Memberships
Any KONE employee wishing to engage in an outside employment opportunity or have an outside managerial interest must disclose this intent to KONE. Such an activity may be acceptable provided that it does not interfere with the employee’s responsibilities or create a potential or apparent conflict of interest. Such an activity is always subject to the prior approval of the employee’s supervisor.
Investments
Personnel must declare to KONE any financial interest, direct or indirect, which they or members of their immediate family have in any company or organization that competes with KONE or with which KONE does business, excluding purely financial interests in a publicly listed and traded company.
Improper Payments or Benefits
KONE has zero tolerance for corruption, whether in the public or private sector. No direct or indirect bribe, gift, favor or payment shall be made to or for the benefit of any third party (including any governmental representative or employee, labor union, current or prospective customer or supplier or their representatives or employees) for the purpose of improperly obtaining a benefit of any kind. Nor shall any KONE employee accept improper payments, gifts, favors or benefits from any source whether directly or indirectly.
Business Gifts and Corporate Hospitality
Business gifts and corporate hospitality can be offered and accepted as acts of courtesy that help foster relations between parties, provided that they are given in compliance with applicable laws and that they do not breach this Code of Conduct.
Modest business gifts of reasonable value may be accepted and given. Gifts or benefits that are unreasonable in nature, frequency or value are prohibited.
Cash gifts of any amount in any currency can never be received or given.
Reasonable business-related entertainment and other corporate hospitality is acceptable when customary. Such entertainment includes, for example, receptions or social events that are attended in KONE’s interest. A KONE employee may thus accept occasional appropriate business meals from a supplier, service provider or entity seeking to do business with KONE. When entertaining our customers, a KONE representative must always be present.
Business gifts and corporate hospitality
- must never influence KONE employees’ business decisions
- must not place an employee or KONE under any obligation
- should represent customary business courtesies
- be reasonable in value and frequency
- should not be offered to obtain an undue advantage
- should not be accepted if the nature, value or timing of the benefit or corporate hospitality being offered or accepted could give rise to the suspicion of unduly influencing a business decision or approval by an authority.
If a KONE employee is offered or receives a request for any gift or entertainment that is in breach of these rules, he/she must inform his/her manager without delay.
The above principles also apply to business gifts and corporate hospitality offered to KONE employees’ family members in connection with KONE business.
More detailed local guidelines may apply to KONE employees in certain countries or business areas/functions.
Anti-fraud
Company funds and property must always be used in a responsible manner and for the intended and legitimate purposes. Any information given to KONE when requesting reimbursement or cost compensation, benefits, or approvals for using KONE property must always be accurate and reliable. Any kind of theft, fraud, embezzlement or other misuse of KONE property is prohibited.
Political Activities and Contributions
KONE honors and values the freedom of each KONE employee to choose a political view. However, to ensure that fellow employees are not offended by KONE personnel expressing their political opinions, KONE premises and work-related events shall be free from political activities and expressions of political beliefs.
KONE’s funds or resources shall not be contributed directly or indirectly to political campaigns, political parties or candidates or public officials or anyone associated with them without the prior approval of the KONE Global Legal Function. KONE employees shall ensure that their personal political activities or opinions are not represented to be those of KONE.
