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Corporate Governance at Lines and Evaluates Their Potential Danone Addresses Social Responsi- Impact on the Group

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Corporate Governance at Lines and Evaluates Their Potential Danone Addresses Social Responsi- Impact on the Group GOVERNANCE DANONE 2007 areas where improvement is neces- sary. Over 40 eld audits were per- formed in 2007 alone. Danone also remains rmly committed to main- taining a transparent, reliable nan- cial reporting system, even though the Group is no longer subject to Sar- banes Oxley requirements since it delisted from the New York Stock Exchange last July. In 2007 our internal regulation efforts bene ted from a robust set of tools. Vestalis, an approach deployed in most of Danone’s business units, xtending beyond the traditional areas helps identify and rank operational of internal control and risk manage- risks for entire countries or business ment, corporate governance at lines and evaluates their potential Danone addresses social responsi- impact on the Group. bility, public health and other critical More recently, the DANgo (Danone new challenges. For, in today’s envi- Governing and Operating) program ronment, the importance of good has centralized best practices from all corporate governance is in no doubt business lines, ensuring that these are for international businesses. consistent Group-wide. Danone has Danone has long been sensitive to also stepped up internal anti-fraud Ethese issues and since 1995 has redou- measures through a special program bled its efforts to meet the highest and related awareness campaigns. standards of governance. With com- These efforts were rewarded in 2007 prehensive rules and procedures for when Danone was recognized by the Corporate governance the Danone Way takes in new business challenges, while still being driven primarily by dialog and the ability to listen. regulatory compliance and effective Dow Jones Sustainability Index (DJSI) risk management already in place, for its outstanding performance in Danone’s Corporate Risk Management corporate governance, more speci - department is now focusing on imple- cally in the areas of risk management mentation at subsidiaries of the and codes of conduct. Group’s operating principles and its Danone applies its code of conduct to commitment to transparency. address an increasingly broad range of As part of its internal audit and risk issues, which now includes societal management responsibilities, the de- and environmental responsibility. CORPORATE partment works with the Board of Its Audit and Social Responsibility Directors and senior management to Committee—set up in late 2006 to improve internal control mechanisms make environmental, social and ethical and ensure compliance in each Group issues an integral part of the Group’s company using self-assessment tools. approach to governance—regularly GOVERNANCE Internal Audit teams take a hands-on review the primary risks and opportu- approach, going out into the eld to nities associated with Danone’s opera- track progress in achieving goals, tions. These include environmental THE DANONE WAY while identifying good practices and issues as well as internal social 80 81 RADAN007_UK_80a91_bat2.indd Sec1:80 5/06/08 20:29:37 RADAN007_UK_80a91_bat2.indd Sec1:81 5/06/08 20:29:46 DANONE 2007 policies, reporting systems, ethical Danone Way Ahead, this initiative fo- guidelines, and the impact of socially- cuses on societal innovation, stress- Executive Committee oriented initiatives on the Group and ing 16 core principles—universally Franck Riboud, Felix local communities. applicable and regularly audited—and 52, French, Martin Garcia, But Danone’s vision of governance is giving Danone’s subsidiaries a meth- Chairman and CEO 47, Spanish, even more comprehensive. In adopting odology for evaluating the impacts, Executive Vice Emmanuel Faber, its mission of bringing health through risks and opportunities of proposed President Fresh Dairy 44, French, Products Central food to as many people as possible, it projects. Societal innovation can also Co-Chief Operating effectively made a commitment to address environmental issues such as and Eastern Europe, 1 Offi cer developing “health governance” protecting water resources, and even Africa/Middle East, guidelines (see page 39). That means includes experimenting with new mod- Bernard Hours, Asia and Oceania track ing social trends, cultivating els for local development, as in the 51, French, Christian Neu, Co-Chief Operating partnerships with scientists and nutri- case of Grameen Danone Foods Ltd 51, German, Offi cer 3 tionists, regulating its own conduct, (see pages 44-57). Executive Vice providing reliable nutrition informa- An even more fundamental source of Jordi Constans, President tion to the public, and pursuing a inspiration dates back to the 1970s, 43, Spanish, Baby Nutrition rigorous Research & Development when Antoine Riboud insisted on mak- Executive Vice Muriel Pénicaud, program to validate the health bene ts ing the environment an integral part of President Fresh Dairy 52, French, associated with Danone products. the Group’s dual commitment to busi- Products Executive Vice Western Europe 2 The commitment became even more ness success and social progress. President important when the Group added baby Since then, Danone’s internal decision- Philippe-Loïc Human Resources nutrition and medical nutrition to its making processes have been grounded Jacob, Sven Thormahlen, business lines, since these industries in outside realities and feedback, ben- 43, French- 51, German, are already in dialog with stakeholder e ting from the ideas and criticisms of Canadian, Executive Vice organizations and institutions. sources ranging from local of cials Secretary General President The common starting point in all these and associations to the international Thomas Kunz, Danone Research areas is the unique vision that grew out scientific community. Openness to 50, Swiss, Dirk Van de Put, of the Danone Way program, which dialog with all stakeholders has ena- Executive Vice 47, Belgian, back in 2001 made governance a pri- bled Danone to identify new social President Waters Executive Vice ority for all 9,000 of Groupe Danone’s issues, particularly in public health, President Fresh Dairy managers. and to anticipate changes in the regu- Products and Waters Updated in 2007 under the new name latory environment. Americas Philippe-Loïc Jacob, Felix Martin Garcia, Executive Vice President Thomas Kunz, Secretary General (1) FDP Central and Eastern Europe, Africa/Middle Executive Vice President Waters (5) New members of the Executive Committee Bernard Hours, East, Asia and Oceania (3) The Committee has welcomed fi ve new members refl ecting changes in its scope Co-Chief Operating Offi cer (2) in charge Muriel Pénicaud, of the Group’s four business lines Executive Vice President Human Resources (4) of consolidation including changes in business lines and management structures. JORDI CONSTANS FELIX MARTIN CHRISTIAN NEU MURIEL PÉNICAUD DIRK VAN DE PUT joined Danone Spain GARCIA began his career with was initially a civil began his career with in 1990. In 2002 joined Danone Mexico Procter & Gamble. servant, holding positions Coca-Cola in Brazil. he became General in 1998 as General He joined Danone including adviser to the He joined Groupe Manager, before Manager after working in 1986 as General Minister of Labor. She Danone in 1998 taking charge with Unilever. In 2001 Manager, fi rst in joined Danone in1993 as General Manager 5 of Danone France he took charge of Germany, then Belgium as Director of Training, of Fresh Dairy Products in 2004. In 2007 Fresh Dairy Products, and the Benelux. then Vice President Orga- Latin America, and he was appointed Central and Eastern In 2001 he was nization and HR Policies. also General Manager General Manager Europe, before appointed General In 2002 she moved to of the Beverages Fresh Dairy Products, becoming General Manager of the Dassault Systèmes as business line for Southern Europe. Manager, Fresh Dairy Northern Europe area. Executive Vice President the same markets. Since January 2008 Products Central Since early 2008 charged with Organiza- Since 2008 he has 4 he has headed the and Eastern Europe, he has been General tion, HR and Sustainable been General Manager general management Africa/Middle East, Manager, Baby Development. In 2008 Fresh Dairy Products of Fresh Dairy Products Asia and Oceania Nutrition. she rejoined Danone as and Waters, Americas. Western Europe. in January 2008. Executive Vice President Human Resources. 82 83 RADAN007_UK_80a91_bat2.indd Sec1:82 5/06/08 20:30:28 RADAN007_UK_80a91_bat2.indd Sec1:83 5/06/08 20:31:01 DANONE 2007 “OUR STRATEGIC SHIFT MAKES GOVERNANCE EVEN MORE CRITICAL” 7 On July 31, 2007, Danone announced the reorganization of its management team and on January 1, 2008, appointed two Co-Chief Operating Offi cers— Bernard Hours and Emmanuel Faber. Interview. What are the new Emmnuel Faber: Our am- So the challenges makes investing to protect priorities for the Group bitions are to live up to the Danone faces the environment both a soci- and its corporate importance of our commit- include societal and etal imperative and a business 6 governance? ments to economic success— business issues? imperative. Bernard Hours: There are which means growth and EF: There’s de nitely a link BH: Both of our new busi- many of them, but they are increased profitability—but between societal and business nesses—baby nutrition and all guided by the convic- also to the social progress that issues. Of course we want to medical nutrition—serve tion that health is shaped by is an integral part of our mis- create wealth, but we also want vulnerable groups, and we Sven Thormahlen, Christian Neu, Emmanuel Faber, Executive Vice President Danone Research (6) Executive Vice President Baby Nutrition (8) Co-Chief Operating Offi cer (10) Listening to all stakeholders and encouraging dialog Jordi Constans, Dirk Van de Put, in charge of Corporate Functions have long been a priority for Danone, and will continue Executive Vice President Fresh Dairy Products Executive Vice President Fresh Dairy Products & Western Europe(7) Waters Americas (9) to structure our governance policies. the food you eat. Our first sion, in other words, to bring to share it, because sharing it simply cannot afford to miss goal is naturally leadership health through food to as many is the best way to ensure last- the mark.
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