BANGALORE: Just weeks after taking a controlling interest in Vijay Mallya's United Spirits (USL), British drinks giant Diageo is setting the agenda on business conduct, a path less traveled by Indian liquor companies. Diageo, listed on London and New York bourses, is stepping cautiously into the mainstream Indian liquor market infamous for political kickbacks and pay-offs to trading oligarchs.
Last week, about 150 senior executives of the Bangalore-based USL huddled into a star hotel in the city center, listening to an intense Diageo briefing on compliance standards and a new code of conduct on anti-bribery laws, environmental concerns and safety norms.
"They want the senior managers to be fully complaint, especially after the UK Bribery Act 2010. This is a big concern and topping their list of priorities right now," said a source privy to the matter but didn't want to be named. A Diageo spokesperson said the company would not comment on recent internal 'trainings' and code of conduct, but issued a 'standalone' statement: "We are working with USL management to define and adopt operating principles and processes which meet both United Spirits and Diageo's requirements. This is standard practice."
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