The Code of Conduct states Ferrari principles of business conduct and applies to all Ferrari Group Board members, officers, as well as full-time and part-time employees, to all temporary workers and all other individuals and companies that act on behalf of the Ferrari Group, wherever they are located in the world (collectively referred to as “workforce”).
The Code constitutes one of the pillars of the Group’s governance model: it regulates the way the Company conducts its business and expresses the values shared and promoted by its workforce, aware that a conduct inspired by the principles of integrity, transparency and responsibility constitutes an important driver for economic and social progress.
All parties with which Ferrari maintains a long-term relationship, such as consultants, agents, dealerships and suppliers are bound to observe the Code of Conduct. To this effect, all business relationships must be characterized by integrity and loyalty and maintained without conflicts between company and personal interests.
Violations of the Code of Conduct are essentially determined through:
The results of those activities are reported to the Management and the Audit Committee of Ferrari.
For all Code violations, the disciplinary measures taken are commensurate with the seriousness of the case and comply with local legislation. The relevant corporate departments are notified of violations, irrespective of whether criminal action is taken by the authorities.
Ferrari Group introduced the new Ethics Helpline on 23 September 2016, the preferred channel which allows all stakeholders (employees, customers, suppliers and partners) to request advice and/or report concerns about alleged situations, events, or actions, which may be inconsistent with the Ferrari Code of Conduct.
The Ethics Helpline is managed by an independent supplier and is available 24 hours a day, 7 days a week.
The allegations will be taken over by the relevant departments of Ferrari and managed in accordance with the whistleblowing procedures applied to all Ferrari Group companies, pursuant to local regulations.
To activate the verification and investigation process of the reported concerns, the allegation must be substantiated, i.e. it must provide objective information which will be useful in identifying the event, the company, the individuals involved, as well as the relative responsibilities.