Code of conduct

Introduction

The TVH Group enjoys a solid reputation around the world, based on integrity, responsible conduct, teamwork, excellence and commitment. 

That reputation, built over time and rebuilt every day, is what sets the TVH Group apart with its customers, business partners, employees and stakeholders. All TVH representatives share the responsibility to protect
and safeguard it.

This Code of Conduct is vitally important. It defines and documents what TVH Group believes in and contains the global standards that each TVH representative must follow.

Thank you for taking time to read and understand the Code and refer to it frequently. Together, we are responsible for sustaining the TVH Group’s reputation and for doing what is right.

On behalf of the family:

Paul Thermote - Pascal Vanhalst - Bernard Demeester - Ann Thermote - Els Thermote

On behalf of the other members of the board:

Dominiek Valcke Guy Vandendriessche John Laebens
CEO - member of executive board CMO - member of executive board CFO - member of executive board

1. General principles

The TVH Group shall comply with the laws and regulations of each country in which it operates, whilst respecting, to the extent possible, local cultural traditions and social customs. Being a worldwide player,
the TVH Group is committed to thinking globally, acting locally. 

In selecting its business partners, the TVH Group prefers to work with partners who demonstrate strong values and commit to the principles expressed in this Code of Conduct.

2. Accurate records and reports

Financial transactions shall be reported in accordance with generally accepted accounting practices. Records and reports shall reflect in a correct and non-misleading manner the business transactions and assets.

3. Protection of confidential and proprietary information

TVH Group’s representatives may be exposed to confidential and proprietary information. This information includes intellectual property, business and financial information, business forecasts and plans, acquisition strategies and other information that might benefit competitors or harm the TVH Group if disclosed.

Disclosing confidential information to any person or organization, directly or indirectly, without prior consent from TVH Group is prohibited, as is using confidential information for purposes not directly related to TVH Group’s business or operations.

When speaking about the TVH Group in a social media outlet or other public forum, each TVH Group’s representative should be careful to only share publicly available information and use discretion and common
sense, consistent with the core values, Code and other company policies.

4. Company property, assets and resources

The TVH Group’s property, assets and resources shall be used for business objectives.

Access to and use of company technology including the Internet, networks, computers and e-mails is expected to be managed in a responsible and professional manner consistent with the Code and other
company policies.

5. Gifts and other payments

Representatives of the TVH Group shall not offer customers, potential customers, suppliers, consultants, governments or any representative of such entities, any gifts or favors greater than nominal value in violation of applicable laws in order to obtain or retain business or to gain any other improper advantage. 

TVH Group employees shall not accept payments or any gifts greater than nominal value from individuals that could affect their objectivity in their business decisions.

Gifts or favors not greater than nominal value are those gifts or favors with a value that is insignificant or small; anything that when given is or can be perceived as highly unlikely to affect one’s judgment or decisions.

6. Anti-corruption and money laundering

The TVH Group shall:

  • respect applicable anti-corruption and anti-bribery laws;
  • not participate in or endorse any corrupt practices;
  • not accept, facilitate or support money laundering.

7. Imports/exports

The TVH Group is committed to following applicable international trade laws including import and export controls regulations and compliance with sanctions and anti-boycott laws.

8. Fair competition practices

The TVH Group promotes fair competition and shall observe antitrust and competition laws where it conducts business.

9. Conflicts of interest

All representatives of the TVH Group shall conduct their external activities and financial interests in a manner that does not conflict with the interests of the TVH Group.

10. Customer satisfaction

The TVH Group is dedicated to quality and takes personal pride in all the products and services it provides. All TVH Group representatives shall act diligently to deliver as quickly as possible the highest possible value in the company’s products and services.

11. Human rights

The TVH Group aims for increased awareness of human rights issues throughout the organization worldwide.
Use of child or forced labor in any of TVH Group’s operations is not tolerated and TVH Group will strive to influence its partners and suppliers to act similarly.

12. Non-discrimination and non-harassment

The TVH Group is committed to providing a positive work environment that is free from all forms of illegal and improper discrimination and harassment. All employees shall have equal opportunities based on competences, experience and performance.

13. Safe workplace practices, health and well-being

The necessary conditions for a safe work environment shall be provided for all TVH Group employees.
The TVH Group is also committed to promoting resources and programs that support the good health and well-being of its employees.

14. Freedom of association

The TVH Group shall respect the recognized unions, the freedom of association and the right to collective bargaining for employees working in its operations and in accordance with the law or practice of the countries in which it operates.

15. Environmental impact and social responsibility

The TVH Group is committed to improving the quality and efficiency of its operations while reducing its environmental impact. When suitable alternatives are available, the TVH Group shall avoid materials and methods imposing environmental and health risks. 
On a regular basis, the TVH Group is supporting several charitable organizations and initiatives that benefit society.

16. Resonsability for compliance

All TVH Group employees, officers and directors are required to understand and follow the principles set forth in this Code of Conduct. The Family and management of the TVH Group shall inform the employees of their rights and responsibilities, shall set the example and act as role models.

17. Report on violation and retaliation

If an employee within the TVH Group is aware of or suspects a violation of the law or this Code, he or she is encouraged to report the issue to his or her direct superiors. If the direct superior is unable to help or if an employee is uncomfortable discussing the concern with his or her superior, the employee may raise the matter with Evelyne Hosdez. (Legal Counsel • T +32 56 43 46 42 • evelyne.hosdez@tvh.com)

The TVH Group will not tolerate retaliation against individuals who make a good faith report of a known or suspected violation of the law or this Code. In addition, retaliation against anyone who participates in
investigations in good faith will also be prohibited.

18. Code violations

Subject to local law, violations of this Code may carry serious consequences, including corrective actions up to and including termination of employment, supplier or customer relationships.

19. Deviations and periodic reviews

Only the Board of Directors may approve deviations from this Code. The Code will be reviewed by the Board of Directors periodically.

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