As the leader in its industry, Givaudan is both expected and committed to adhere to high ethical standards in business conduct and to comply with all applicable laws and regulations in its relations with customers, suppliers, shareholders, employees, competitors, government agencies and the communities in which it works. These principles are enshrined in Givaudan’s Principles of Business Conduct and are complemented by a system of internal policies, procedures and guidelines and overseen by a multilayered compliance organisation.
Given the nature of Givaudan’s industry, compliance has many different facets, comprising general compliance as well as specialised fields of compliance, including product safety compliance and environment, health and safety. Compliance control in the special fields is assured by specialised corporate functions, including the regulatory product safety team (Regulatory) and the environment, health and safety team (EHS). The general compliance team assures compliance with the Principles of Business Conduct and coordinates with the different specialised compliance functions to ensure a harmonised compliance system.
Acknowledging the increase in Givaudan’s size after the successful acquisition and integration of Quest International and the increased complexity of compliance due to ever-increasing regulations and stakeholder demands, Givaudan has in further strengthened its general compliance organisation by splitting the Compliance and Legal functions and creating a new function of Corporate Compliance Officer at the head of the general compliance organisation. The Corporate Compliance Officer was appointed on 1 September 2010. The Corporate Compliance Officer works with the existing local compliance officers and the Regulatory and EHS teams to further enhance Givaudan’s compliance function.
Following the creation of the new function, the compliance team has focused on recent changes in general compliance requirements due to new legislation (including the UK Bribery Act 2010), increased demands for compliance reporting in the area of sustainability and changed requirements through the increased use of social media. As part of this, Givaudan reviewed its general compliance training programme with a view to launching a new e-training programme in 2011.
The Principles of Business Conduct can be found on Givaudan’s internet site: www.givaudan.com – [our company] – [corporate governance] – [rules and policies]