Alliance One Announces Successful and On-Time Completion of Compliance
MORRISVILLE, N.C., Oct. 1, 2013
MORRISVILLE, N.C., Oct.1, 2013 /PRNewswire/ --On August 6, 2010, Alliance
One International, Inc. (NYSE: AOI), entered into separate settlement
agreements with the Department of Justice (DOJ) and the Securities and
Exchange Commission (SEC) to resolve those agencies' respective investigations
relating to violations under the Foreign Corrupt Practices Act, which involved
conduct occurring prior to the merger that formed the Company in May 2005.
These settlements required the Company to retain an independent compliance
monitor for a term of three years. Accordingly, F. Joseph Warin, Esq. of the
law firm Gibson, Dunn & Crutcher LLP was selected to serve as the Company's
independent compliance monitor for this three-year term.
On September 30, 2013, the Company fulfilled its obligations under its
settlement agreements, including the successful and on-time completion of its
compliance monitorship. On May 7, 2013, the Monitor filed his third and final
of his required reports with the DOJ and the SEC. In the third report, the
Monitor evaluated the long-term sustainability of the Company's compliance
program, in addition to risk-based themes and the implementation of
recommendations from previous years.
The Monitor concluded the third report by certifying that the Company's
Compliance Program, including its policies and procedures, is reasonably
designed and implemented to detect and prevent violations of anti-corruption
laws within the Company. The final report also states that all recommendations
of the Monitor have been fully implemented by the Company. As per the
schedule set forth in the aforementioned settlement agreements, the
monitorship formally ended on time on September 30, 2013, and without any
extensions of that date by the Monitor, the DOJ or the SEC.
"Over the past three years we have built a world-class compliance program
supported by strengthened systems, policies, procedures and controls that
address a variety of compliance areas," said Alliance One's President and
Chief Executive Officer J. Pieter Sikkel. "While the completion of the
monitorship is an important milestone, our strong commitment to operating
ethically and compliantly will continue indefinitely. I would also like to
thank Joe Warin and his colleagues at Gibson, Dunn & Crutcher, LLP for
providing invaluable feedback on our Compliance Program and for carrying out
their responsibilities in a professional and thoughtful manner."
Alliance One International is a leading independent leaf tobacco merchant
serving the world's large multinational cigarette manufacturers. For more
information on Alliance One, visit the Company's website at www.aointl.com.
SOURCE Alliance One International, Inc.
Contact: Joel L. Thomas, (919) 379-4300
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