| Visteon's ethics and compliance program is based on our Ethics and Integrity policy. This policy describes the company's expectations regarding the standards of behavior and conduct of employees. It underscores our dedication, at all levels of the organization, to the core values underlying our ethical standards. The policy is translated into nine languages and distributed to our employees throughout the world. The company also maintains an ethics "hotline" and encourages employees to report any concerns or failures in compliance. Finally, Visteon has implemented a process under which employees can bring any concerns regarding matters of ethics and compliance to the direct attention of our Audit Committee. Through an annual report presented to the Audit Committee, the company describes its activities and compliance within our ethics areas. |
| Highlights of Ethics and Integrity Policy |
Diversity and Inclusion
Visteon is committed to creating and maintaining an inclusive environment
that provides equal opportunity to our employees, customers, suppliers and the
community at large and an environment in which all employees are treated
with integrity and respect, and differences are highly valued. Harassment
or discriminatory treatment of any form is not tolerated. |
Environment, Health and Safety
Visteon is committed to practices that generate safe workplace actions,
conditions and procedures. Visteon also protects and conserves the natural
environment and complies with all accepted environmental standards |
Product Safety and Quality
Visteon must design, engineer and manufacture products that meet or exceed
all applicable laws, regulations, voluntary standards and industry practices.
We accept the responsibility to produce high-quality products and are
dedicated to creating products that consistently earn high marks for safety |
Company Property and Information
Company records, property, technical information and communications
are property of the company and should be used only to further Visteon's
business objectives. Employees are directed to take certain precautions to
protect the confidentiality of this important business information.
The cornerstone of Visteon's mission to be the supplier, employer and
community citizen of choice lies in its unwavering commitment to corporate
ethics and compliance. Immediately after becoming an independent public
company, Visteon implemented a comprehensive ethics and compliance program.
Visteon's ethics and compliance program is based on our ethics policy,
entitled, "A Pledge of Integrity." This policy describes the company's
expectations regarding the standards of behavior and conduct of employees:
It underscores our dedication, at all levels of the organization, to the
core values underlying our ethical standards. |
Intellectual Property, Confidentiality
and Privacy Property
Valuable company technology is protected through patents, trade secret
protection and copyrights, and a commitment to preventing unauthorized
use of the intellectual property of other companies. |
Books, Records and Filings
Visteon must make every effort to ensure that information contained in documents filed by the Company with governmental or regulatory bodies, including the Securities and Exchange Commission, and in other Company communications is complete, fair, accurate, timely and understandable. |
Insider Trading
Employee use of material nonpublic information acquired in the course
of employment to buy or sell stock or other securities is strictly prohibited,
as is disclosure of nonpublic information about companies with which
Visteon might have a pending material transaction. |
Conflicts of Interest
Visteon employees are instructed to avoid any actions that have the potential
or actual appearance of impacting the Company adversely or that interfere
with an employee's business judgment. |
Fair Dealing and Competition
Visteon prohibits price fixing, unfair competition or any other activity which
unfairly impacts or restricts competition in the marketplace. Visteon expects its employees to comply with all applicable laws in every country in which Visteon does business, as well as all applicable U.S. laws, regardless of local customs. This includes but is not limited to laws against discrimination and harassment, and laws prohibiting child and forced labor. Employees must comply with the Foreign Corrupt Practices Act. |
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Code of Basic Working Conditions
As an extensions of our ethics and compliance program, in 2006, Visteon adopted its own Code of Basic Working Conditions. This code sets our requirements and expectations related to the following areas:
| Child Labor |
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Compensation |
| Forced Labor |
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Freedom of Association & Collective Bargaining |
| Harassment & Discrimination |
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Environment, Health, and Safety |
| Work Hours |
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Responsibility and Implementation |
Visteon is committed to ensuring its own suppliers are aligned with the company's ethics and compliance program. Visteon issues to all of its suppliers terms and conditions that include compliance with all applicable laws and regulations, including those relating to environmental matters, wages, hours, conditions of employment, discrimination, health and safety. The terms and conditions also require that suppliers attest that any supplies purchased by Visteon will not be produced with forced labor either by the supplier or its suppliers.
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United Nations Global Compact
Visteon has endorsed the United Nations Global Compact and has expressly communicated its support of the Compact to Secretary-General Kofi Annan.
http://www.unglobalcompact.org/AboutTheGC/index.html
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GOVERNANCE:
Board of Directors
http://www.visteon.com/company/executives/index.html
Board Committee Structure
There are currently five Board committees
Corporate Responsibility Committee
Established in March 2004, the Corporate Responsibility Committee's purpose is to review and oversee the corporation's policies, practices and performance with respect to corporate citizenship and public policy considerations affecting Visteon's relationship and reputation with its key stakeholders, including its shareholders, employees, communities, and customers. The Committee's duties and responsibilities are to:
- Understand Visteon's business activities that relate most directly to matters of public policy and corporate citizenship, including environmental stewardship, corporate giving,
community involvement and government relations
- Review and develop recommendations to management that assist in formulating and adopting policies, programs, practices and strategies concerning corporate citizenship and public policy matters
Further detail on Board committee charters and roles and responsibilities can be found on http://phx.corporate-ir.net/phoenix.zhtml?c=122447&p=irol-govhighlights |
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