Meritor Chief Procurement Officer Named President of Aftermarket and Trailer Division
On April 30, Meritor, Inc. (NYSE: MTOR), a Troy, Michigan-based global supplier of drivetrain, mobility, braking, and aftermarket solutions for commercial vehicle and industrial markets, named Robert Speed as President of Aftermarket & Trailer in addition to his role as Chief Procurement Officer (CPO). In his dual role, Speed will be responsible for managing all sales, business strategies, and operations for Meritor’s Aftermarket & Trailer segment, as well as Meritor’s procurement, supply chain, and facilities operations. “Rob’s ability to achieve results across diverse organizational functions is an asset as we continue to focus on our strategic targets,” said Jay Craig, Meritor CEO and President. Speed became Meritor’s CPO in March 2014 after nearly ten years with the company and steadily making his way from financial and treasury roles to purchasing and procurement roles. Speed earned his MBA from the University of Michigan in 2004, and his BS in Finance from Ferris State University in 1994. We wish him all the best in his new role.
G7 Leaders Declare Support for Responsible Supply Chains
On Monday, June 8, the Group of 7 (“G7,” comprising Canada, France, Germany, Italy, Japan, the UK, and the US) met at its annual summit in Schloss Elmau, Germany to discuss myriad international economic, security, and sustainability issues, and declared their support for responsible global supply chains. The statement, made available on the White House website, made a sweeping declaration of support for many corporate social responsibility and sustainability issues, including wage and labor laws, environmental health and safety, consumer advocacy, ethical sourcing, corporate due diligence, promoting visibility into supply chains. In declaring their support, member nations took responsibility for improving conditions at home and abroad, and pledged to work with national and international governing bodies, such as the United Nations, the Organization for Economic Cooperation and Development, the International Labor Organization (ILO), and the G20, to enact and uphold current and future agreements to support these issues.
The G7 declaration also called on the private sector to perform due diligence into their supply chains, particularly in the textiles industries, even when such due diligence measures are not mandated. In doing so, the G7 cited the 2013 Rana Plaza Factory fire in Bangladesh in which more than a thousand textiles workers were killed when the building they were in collapsed. Additionally, the declaration called for the continued development of tools, such as applications, for procurement professionals and consumers to validate product and ingredient labels. The G7 also supports the “Vision Zero Fund” that will be established in collaboration with the ILO that will help reduce workplace accidents and increase worker safety. Access to the program will be conditional upon recipients committing themselves to CSR, environmental health and safety, labor, and sustainability initiatives within their operations.
CFSI Releases New Conflict Minerals Compliance Template
In early May, Compliance Week reported that the Conflict-Free Sourcing Initiative (CFSI), a consortium of more than 200 global enterprises committed to driving transparency into supply chains and limiting the use of conflict minerals worldwide, released the newest version of its Conflict Minerals Reporting Template, version 4.0. The updated template is a free tool that is meant to further assist supply management and legal teams that are tasked in accordance with federal regulation with conducting due diligence into enterprise supply chains, smelters, and countries of origin for conflict minerals. Version 4.0 expedites the identification of new smelters and refiners, particularly those that may be subject to CFSI auditing. It also includes more robust smelter information, including alternative names, translations, city/province/country information, which can be difficult for Western countries to track down during audits. The updated tool is intended to be compatible with multiple operating systems, and should be used for 2015 reporting requirements.
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