Transparency International-USA Honors Raytheon for Anti-Corruption Efforts
Transparency International-USA has awarded Raytheon its 2014 Corporate Leadership Award for the defense company's efforts to prevent corruption and instill business ethics among its employees and suppliers.
"Raytheon has helped frame for U.S. and international business the importance of ethical business conduct," the organization said in its citation. It presented the award during a Nov. 3 ceremony in Washington, D.C.
Transparency International-USA is the U.S. chapter of the global anti-corruption coalition, which advocates for business integrity and government transparency.
The organization praised Waltham, Massachusetts-based Raytheon for its history of anti-corruption efforts, including helping to found the Ethics and Compliance Officer Foundation in 1991 and serving on the Steering Committee and Working Group of the Defense Industries Initiative on Business and Ethical Conduct. Raytheon is also a member of the steering committee of the International Forum on Business Ethical Conduct.
The company has ramped up its anti-corruption education efforts and due diligence processes in recent years as the company expands its international business, said Jay Stephens, the company's senior vice president, general counsel and secretary.
"As Raytheon has become an increasingly global company, we understood the compliance and operational risk posed by the global business environment and international business transactions," Stephens said. "As a process-oriented company, we addressed the risk of corruption in a very comprehensive way."
The company has published an anti-corruption policy in 15 languages, formed an anti-corruption team and created a series of employee-education videos in which dilemmas posed by real scenarios are resolved.
"We are honored that Transparency International-USA has recognized our leadership in promoting the rule of law and ethical business conduct," Stephens said. "We will remain vigilant in fostering a culture of integrity and sound business practices to support our global growth."
Last Updated: 03/11/2015