SNC-Lavalin working to repair reputation
Pedestrians walk past the offices of SNC Lavalin in Montreal. (Ryan Remiorz / THE CANADIAN PRESS)
The Canadian Press
Published Monday, September 9, 2013 2:07PM EDT
MONTREAL - SNC-Lavalin's chief compliance officer told a fraud conference Monday that the embattled engineering company is working to correct the problems that have damaged its reputation during the past 18 months.
Andreas Pohlmann says the Montreal-based company is addressing its "compliance crisis" by bringing in a number of changes to help ensure employees have the right "ethical compass."
He says the challenge for SNC (TSX:SNC) is to change the mindset of employees who work in countries where bribes are ingrained in the business process.
Pohlmann, the former head of compliance at Siemens, was hired last spring to reshape SNC's culture.
He says the goal is to ensure the company doesn't break the law when it seeks contracts, even in countries that have come under scrutiny for shady practices.
SNC-Lavalin created Pohlmann's position nearly a year after an internal investigation uncovered $56 million in questionable payments.