Sonepar raised its already high level of oversight this past year with the appointment of a Chief Compliance Officer (CCO). His role is to ensure that the Group abides by the laws and regulations in force wherever it operates, and that the necessary standards, training programs and preventive plans are in place. The CCO will also be responsible for strengthening and enforcing a code of ethics across the organization.
Sonepar supplemented its Governance Charter in late 2017 with a Code of Business Conduct summarizing the main principles of integrity for all of its 44,500 associates the world over. The code has been made available in all Group languages and locations, with all conventional and digital media being used to ensure that it is known to and understood by everyone. A highly practical, interactive mobile app will also soon be introduced. To buttress its Code of Business Conduct, the Group issued a formal, more detailed Compliance Guide. Sonepar also launched the Whistle-Blowing Procedure called for by current legislation and provided further training in that area. Lastly, 22 “Compliance Champions”—executives in charge of several countries within a given area—were selected to inform, explain and detect potential compliance issues.
Compliance isn’t an illness. It‘s a mindset, the foundation for lasting growth, for ethical practice. And it’s not negotiable!