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Code of ethics for senior executives and senior financial officers

Effective January 2004

This code of ethics shall apply to the chief executive officer, the chief financial officer, treasurer and controller or principal accounting officer (the senior financial officers) of Sonoco Products Company (the company). The code is intended to supplement the company's policies on business conduct, as from time to time amended.

Senior financial officers shall conduct themselves in a manner to promote and shall observe standards that will promote:

  1. Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
  2. The taking of reasonable measures to protect the confidentiality of non-public information about the company or its subsidiaries and their customers obtained or created in connection with their activities, and the prevention of unauthorized disclosure of such information unless required by applicable law or regulation or legal or regulatory process;
  3. Full, fair, accurate, timely and understandable disclosure in the periodic reports and other documents filed by the company with, or submitted by the company to, the Securities and Exchange Commission (the SEC) and in other public communications made by the company or its subsidiaries;
  4. Compliance with applicable governmental laws, rules and regulations, as well as the rules and regulations of self-regulatory organizations of which the company or its subsidiaries is a member; and
  5. The prompt reporting of any violation of this code of ethics through the company's hotline system.

The senior financial officers are prohibited from directly or indirectly taking any action to fraudulently influence, coerce, manipulate or mislead the company's independent public auditors for the purpose of rendering the financial statements of the company misleading.

Any senior financial officer who has, or appears to have, a conflict of interest, shall disclose in writing the facts of any material transaction or relationship that reasonably could be expected to be, or appear to be, a conflict to the chief financial officer. If the person with the apparent conflict is the chief financial officer, then the disclosure shall instead be made to the chief executive officer. If the person with the apparent conflict is the chief executive officer, then disclosure shall instead be made to the chairman of the audit committee. Unless the disclosed conflict is waived by the person to whom disclosure is required to be made, or determined by the company's general counsel not to be a conflict, the conflicted senior financial officer shall recuse himself or herself from consideration of any matter as to which there is, or appears to be, a conflict.

The senior financial officers understand that they will be held accountable to the board of directors of the company for their adherence to this code of ethics. Their failure to observe the terms of this code of ethics may result in disciplinary action, up to and including termination of employment. Violations of this code of ethics may also constitute violations of law and may result in civil and criminal penalties for the officer, his/her supervisor and/or the company.

Any questions about the best course of action or existence of a conflict in a particular situation should be reviewed with the company's general counsel. A senior financial officer may choose to remain anonymous in reporting any possible violation of this code of ethics.

Any waiver of compliance with any provision of this code of ethics may be made only by the board of directors and must be reported to the SEC on Form 8-K as required by such form.

 
 
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