ESSILOR PRINCIPLES & VALUES
ESSILOR PRINCIPLES & VALUES OUR PRINCIPLES ARE DIRECTLY DERIVED FROM OUR COM- PANY AND ITS UNIQUE CHARACTERISTICS: ESSILOR PRINCIPLES & VALUES We are a Group that is pioneering, multi-local and human. Our collective mission is to improve lives by improving sight. This corporate mission requires a commitment to high standards of quality and innovation; Our leadership position means we are to be exemplary in the way we do business, and also that we act for the benefit of society, organizations, associations or people through our efforts towards this common cause. OUR VALUES ARE DEMONSTRATED IN THE WAY WE WORK TOGETHER: EACH OF US CONTRIBUTES TO ESSILOR S RESPONSIBILITY AND REPUTATION IN WHAT WE DO EVERYDAY. SO WE MUST KNOW AND RESPECT THE PRINCIPLES THAT APPLY TO EVERYONE. THIS MEANS WE MUST UNDERSTAND AND SHARE THE VALUES THAT UNDERLIE OUR COMPANY. We form a community of entrepreneurs based on shared trust and mutual respect. Motivated by a spirit of initiative, we make diversity one of our strengths, thanks to our culture of strong collective involvement. We are thus able to take risks and to learn from our successes, but also from our mistakes. Valoptec Association unites within the Group a responsible shareholding and governance with its own Chart of Values to which its members adhere. The purpose of this document is to facilitate the dissemination of our principles and values. Today this is particularly important because we are growing faster than ever before, and an increasing number of employees and partners are joining our company. It is important that we all adopt, in all our activities, behaviors that respect our principles and values. These are deeply rooted in our history; they form the basis of our success and support our growth. Shared across a background of diverse beliefs, they are open to, and encourage, cultural differences. They provide each of us with paths for personal involvement and development. Our principles and values are made available through reference document, some of which are more detailed and others more specific. They are subject to continual improvement, in order to adapt our practices to the evolution of the Group and its environment, particularly in managing and preventing risk in a context of rapid change and globalization. Sharing strong principles and common values is part of our culture, and enables all of us to work towards our mission: improving lives by improving sight across the world. Hubert Sagnières Chairman and Chief Executive Officer 1 2
ESSILOR PRINCIPLES & VALUES THE MISSION AND SPIRIT OF OUR COMPANY Vision is one of the five senses. It s also a vital function. Good eyesight is an essential asset, not only for health but also for social and professional lives, children s development, and our daily well-being. The effort to improve vision mobilizes a large number of actors and above all visual health professionals and other players in the optical industry. It also requires building the awareness of professionals in other areas such as education, the workplace or the transportation industry about the benefits of visual screening, eye and vision examinations, and corrective lenses. More than four billion people in the world need visual correction, and today 2.5 billion do not receive it. Essilor s mission drives us to serve all these people alongside vision professionals, by providing them access to quality products that are innovative, customized, and accessible thanks to a highly varied product offering. OUR LEADERSHIP RESPONSIBILI- TIES: SETTING AN EXAMPLE AND BENEFITING SOCIETY The global position Essilor has achieved brings with it special responsibilities: respect for the laws of territories where we are present, as is expected of any company, but also for the rules governing business, technical, and social activities, culture and way of life in the communities where we live and work. In addition, we have made various commitments so that our company will, over the long term, develop in a context of global economic, human, and environmental performance. We also recognize the need to improve our understanding of new territories into which we are expanding so that we can adapt our business to their context. OUR COMMUNITY OF ENTRE- PRENEURS: SHARED TRUST AND MUTUAL RESPECT Close proximity to the individuals we serve, within a global organization to implement the best quality solutions enables us to provide innovative responses to the need for improved vision throughout the world. We are a multi-local group and we provide innovative solutions worldwide tailored to the needs of improving vision by relying on our proximity and local initiatives. These initiatives benefit from our global organization and high quality technology solutions. A shared human vision of the company and mutual trust enhance the efficient mobilization of skills and resources. This is exemplified by the importance we give to employee shareholding. Essilor organizes its activities in spirit of partnership which values management autonomy, an entrepreneurial spirit and respect for people. This favours a better understanding of the countries and cultures where new markets are opening and where we can bring pioneering solutions. The development of lasting partnerships is an important model for our mission. This is underpinned through the sharing of technologies with other companies and contracts with suppliers and actors in the optical chain, including for the training of vision professionals. 3 4
ESSILOR PRINCIPLES & VALUES OUR PRINCIPLES TO BE RESPECTED Principles are references which guide our actions and which must be respected. Some are defined by Essilor; others stem from laws or regulations emanating from authorities in the countries where we operate. Others are voluntary initiatives undertaken in cooperation with our stakeholders. RESPECT THE LAW AND APPLY HIGH STANDARDS The respect for law and public regulations is an obligation for all of us. In particular, this includes competition law, intellectual property rights (patents, trademarks, methods, know-how, etc.) and employment law. In the same vein, respect for internal and external standards for product safety and quality is a fundamental principle, given our role in health care. For this reason, local rules concerning the health profession apply to us, when they exist. Environmental protection legislation and our own standards in this area must be observed in all our activities. As a publicly traded company, we obviously must comply with financial legislation (securities and exchange law, insider trading violations, etc.). Moreover, we have decided to adhere to voluntary commitments such as the United Nations Global Compact. We must therefore remain vigilant to uphold these commitments. HUMAN RELATIONS BASED ON OUR PRINCIPLES The respect of our principles in our human relations is a key element towards achieving our objectives. The health, safety and working conditions of Essilorʼs employees, beyond compliance with employment law, are among managementʼs highest priorities and contribute to the attractiveness of working at Essilor. Our principles of individual evaluation demonstrate our sense of fairness and respect for differences and facilitate the recognition of value and achievement. We are attentive to developing and enhancing competences through training, career management, and job mobility. Social dialog should be the preferred method for reconciling viewpoints and legitimate expectations of Essilorʼs employees as a group. USE OUR RESOURCES IN A RESPONSIBLE AND CAREFUL WAY Responsibility, judgment and sustainable development must guide the use of the Companyʼs resources. Raw materials, natural resources and financial resources must produce results clearly related to the success of our mission, which remains our sole objective. 5 6
ESSILOR PRINCIPLES & VALUES OUR SHARED VALUES Essilor Values guide our attitudes and behaviours in our everyday life. The high level of commitment to the Company shown by Essilor s senior executives and Board of Directors is the focus of their accountability and contribution to our development. WORKING TOGETHER INNOVATION concerns all aspects of the company: technology, manufacturing, sales and service. Innovation to promote access to visual health for a maximum number of people is what drives our development. 5 VALUES increases the companyʼs performance and enables us to maintain a dynamic of permanent evolution. TO GUIDE OUR ATTITUDES AND DAILY BEHAVIOUR OUR DIVERSITY and the value we place on differences are strengths that enrich our human experience. They accompany our geographic expansion and our adaptation to local cultures. 7 RESPECT AND TRUST are at the heart of our human relationships and foster commitment. OUR ENTREPRENEURIAL SPIRIT, which is reflected in the encouragement of initiative and empowerment, is one of Essilorʼs founding characteristics. WORKING TOGETHER INNOVATION RESPECT & TRUST ENTREPRENEURIAL SPIRIT DIVERSITY 8
ESSILOR PRINCIPLES & VALUES REFERENCE GUIDES TO SUPPORT OUR PROGRESS Essilor International has put in place an organization and reference documents to structure its approach: The Group Standards Guide (GSG, formerly the Administrative and Financial Manual) is overseen by the Department of Internal Audit. It includes the key requirements to maintain in our everyday activities. Each Head of Department is responsible for making this guide available to his or her teams to ensure the correct application of these rules. Please note that the Minimum Control Standards (MCS) document is also available. It presents a summary of the controls set out in the GSG. The Corporate Human Resources Department deploys policies throughout the group to promote our values and principles in social relations. The Department of Sustainable Development, created in 2002, reports to the Chief Corporate Mission Officer, whose role is to implement actions relating to our core mission. The Health, Safety and Environment department is in charge of developing and deploying our HSE policies as well as associated risk management programs. Lastly, the Compliance division, is the part of the Group s Department of Legal Affairs and Development responsible for compliance. LONG TERM ACTION PLANS T H RO U G H C O N T I N U O U S IMPROVEMENT On many topics, including intellectual the Chairmanʼs report on corporate governance and internal control - part of our annual reference document which describes the actions taken. property, information technology, secu- The Group is conscious of the daily work discrimination, our Group has adopted implies for its employees. It requires rity, and the prevention of any kind of charters or rules. They are part of our efforts to raise awareness about such issues as confidentiality and the rules relating to competition law. These com- munication tools or training programs are intended to be adapted to local needs and are accompanied by moni- that this permanent quest for progress an effort from each of us to inform and train ourselves. Essilor communicates regularly the outcomes of actions undertaken by the Group, to support the commitment and backing of every employee. toring procedures. The complete list of our working topics is included in 9 10
Essilor International 147, rue de Paris 94220 Charenton-le-Pont, France www.essilor.com Photos credits : images photothèque Essilor International - Graphic conception : lilcreative - September 2014