everyone connects company confidential every employee, everywhere… learning whirlpool’s history...

Everyone Connects

Company Confidential

Every Employee, Everywhere…

Learning Whirlpool’s History

Every Employee, Everywhere

Strategic Architecture

Vision

Mission

Strategy

Culture and Values

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Aligned with the Strategic Architecture

VISION CORECOMPETENCIES

CULTURE& VALUES

STRATEGIESMISSION

Every

EverywhereWith Pride,Passion andPerformance

Defines ourbusiness

scope andfuturestate

Everyone…Passionately

Creating LoyalCustomers

for Life

Defines ourfocus and

what we dodifferent to

create value

Brand FocusedValue Creation

(BFVC)- Brand- TPM- Global Operating Platform

Defines how wewill create value

by buildingunmatchedCustomer

Loyaltyto our brands

Diversityw/ Inclusion

Integrity

Respect

Teamwork

Defines who we areand what we

believe in

CustomerExcellence

Innovation

Customer CenteredOPEX

Defines theunique skillsthat enableus to buildCustomer Loyalty

Home…

OPERATIONALCOMPETENCIES

Total Cost

Productivity

MarginRealization

Product Quality

Defines the executioncapabilityto create

value fromour strategy

Spirit of

Winning

Great Leadership & Talent

The Enablers To Make The Strategic Architecture A Reality

Extraordinary Performance & Results

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With the same Vision

“Every Home, Everywhere…with Pride,

Passion and Performance”

“Everyone… Passionately Creating

Loyal Customers for Life”

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Phase I Phase IIIPhase II

“Leading Global Appliance Mfg.”

Critical Challenge:•Realize and unlock the current value of the enterprise.•Create value through a “cycle”

Key Strategic Focus:

•Build new organizational capabilities•Embed and deliver real innovation•Customer loyalty drives the business

“Leading Global Innovative Appliance Company”

•Customer loyalty drives differentiated business results

•Growth

•Margins

•FCF

•Utilize company strengths and competencies to extend the business into new segments

“Leading Global ConsumerBrand/Products Company”

•Leverages our skills to create value in new business segments

•Major expansion of the company with a leadership position in new consumer business segments

2005 2015

Every Employee, Everywhere…Working Towards Whirlpool’s Strategic Vision

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Fits with Whirlpool’s Culture and Values

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“No Right Way to Do a Wrong Thing”

• "We will pursue our business with honor, fairness, and respect for the individual and the public at large…ever mindful that there is no right way to do a wrong thing." - Jeff Fettig, chairman and CEO

• Whirlpool’s code of ethics requires each of us to act responsibly and maintain the highest levels of personal, business, and legal conduct.

• Ethical conduct has no boundaries – it applies to Whirlpool and subsidiary employees worldwide. If you become aware of an ethics issue, it is your responsibility as a Whirlpool employee to report it.

• You should do so by contacting your supervisor, HR representative or by contacting the Law, Corporate Security or Internal Audit departments. You can also report violations by calling the confidential hotline. The master Hotline number is 1-800-961-2487.

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• Whirlpool Corporation operating units throughout the world need to follow consistent principles relative to Labor and Employment practices.

• At Whirlpool, we adhere to, abide by and administer all laws and regulations concerning labor issues in each of the countries in which we do business. In every instance, we will first ensure that our policies and actions are in full compliance with the laws and regulations of the respective countries in which we operate.

• As a company whose success depends on continually developing innovative products that meet and exceed consumers' needs, we recognize and respect the intellectual property of others while seeking respect for and protection of our own intellectual property.

• As a global corporate citizen, we will respect the law and behave with honesty and integrity in all aspects of public life while demonstrating responsible leadership.

• As a member of local communities, we will respect and promote the rights of all those within our sphere of influence in host communities.

Going along with our Value of Integrity

Global Labor & Employment Guidelines

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As an employer we:• Provide a fair salary and good conditions of employment• Provide a healthy, safe and secure work place for all employees and

contractors • Communicate with our employees and whenever possible, partner with

them to achieve desirable competitive outcomes• Oppose discrimination and/or harassment at work and are committed

to promoting respect for diversity and inclusion• Commit to promoting the personal development and dignity of every

individual employee• Respect the right of employees to join or not join an independent trade

union and will bargain in good faith with these associations when properly elected

• Do not accept or condone any aspect of forced labor• Adhere to and strictly enforce child labor laws


Global Labor & Employment Guidelines

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• The Whirlpool Corporation Supplier Code of Conduct sets forth the key principles under which we expect our suppliers worldwide to operate.

• Simply put, we expect to work with suppliers and factories that provide safe, lawful and humane conditions for their workers in accordance with applicable local laws. The Code applies to facilities involved in the production of products and components for Whirlpool or any of our subsidiaries, vendors or agents.

• We require our suppliers to comply with laws in all countries in which they do business. If there is no local legal requirement, or if a local legal requirement is less stringent that the requirement included in the Whirlpool Supplier Code of Conduct, Whirlpool Suppliers are required to follow the Code requirement.

• A copy of the Supplier Code of Conduct can be found at www.whirlpoolcorp.com/social_responsibility

• If you think there may be an issue with a supplier, please contact a director in your local procurement organization or call the confidential Code of Ethics hotline at 1-800-961-2487.


Supplier Code of Conduct

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Going along with our Value of IntegrityFinancial Compliance and Controls are in Place

Financial compliance and controls includes all processes, policies, procedures and controls that affect the accuracy and reliability of the company’s financial information and the ability for the company to meet regulatory compliance requirements.

This does not just affect finance functions, virtually all parts of the company are affected (e.g., human resources, manufacturing, procurement, logistics, sales, information technology, legal, executive management, the board of directors and audit committee)

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Why is Financial Compliance and Controls Important?

• It is consistent with the company’s core values of integrity and respect

• It results in good sound business practices• It promotes robust, consistent and reliable business

processes• It assists management in more effectively running the

business• It ensures accurate external financial reporting which

provides shareholder value via reliable and predictable financial information

• It discourages and would likely prevent or detect fraudulent activities

• It allows the company to meet regulatory compliance requirements and file accurate tax returns

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Examples of Internal Controls

Manufacturing/Distribution• Control - Personnel conduct regular cycle counts of inventory.• Purpose - This control helps ensure appropriate inventory levels to

meet either production or customer requirements but it also ensures accurately recorded inventory values helping to ensure the accuracy of the company’s financial statements and other financial metrics.

IT• Control - All changes to IT applications require management approval,

development and testing, user acceptance and final approval.• Purpose - This is considered an “IT general control” (ITGC). ITGC’s are

critical as they help ensure the integrity of our IT systems. Without strong ITGC it would be almost impossible in today’s automated environment to rely upon the accuracy of information (financial and all other) provided by our IT applications.

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Examples of Internal Controls continued...

Human Resources• Control - Access to personnel information within the HR system is

limited to only authorized users• Purpose - This control ensures privacy of your personal information

and it helps ensure appropriate segregation of duties (such that someone with conflicting duties, such as a payroll processing clerk, could not accidentally or intentionally alter pay or benefit information or create fictitious employees).

Entity Level• Control - The company maintains and communicates a “Code of

Ethics” and provides an “Ethics Hotline” for employees to report any noted improprieties.

• Purpose - This control is considered an “entity level control” as it is not embedded into a particular business process but resides above those processes at an “entity level”. It applies to all employees of the company regardless of location or job function.

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Earning Whirlpool Recognition

2005 “Top 20 U.S. Companies for Leaders”- Hewitt

Associates and The Human Resource Planning Society.

2005 “25 Noteworthy Companies for Diversity” -

DiversityInc Magazine.

ENERGY STAR Sustained Excellence 2006 Award-

U.S. Department of Energy and the U.S. Environmental

Protection Agency

2006 “100 Best Corporate Citizens” -

Business Ethics Magazine

2006 “Best College Recruiting Program” -Electronic Recruiting

Exchange

“World’s 100 Most Innovative

Companies” 2006 -Business Week

Magazine

Ranked 12th: “Top 50 Companies for African-American MBAs” 2006 -

Black MBA Magazine

everyone connects company confidential every employee, everywhere… learning whirlpool’s history...

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