Good governance
What we do
Fagron considers good governance vital to conducting business. It is a guideline that helps ensure a responsible way of doing business and carrying out activities.
The topics that we find important:
- Compliance with laws and regulations
- Corruption and bribery
- Grievance mechanism
- Remuneration of executives
Our efforts on good governance contribute to SDG 8 (Decent work and economic growth) by our efforts to achieve annual turnover growth.
Compliance
Fagron strives to comply with laws and regulations in all jurisdictions in which we operate. Failure to comply with laws and regulations may negatively impact Fagron and our stakeholders. For example, the health of end-users of our products could be affected when we fail to comply with product quality or safety requirements.
Our annual target:
- Zero compliance issues at Fagron NV and Fagron BV
Corruption and bribery
Fagron attaches great importance to transparency and fair trade. We do not tolerate bribery or other forms of corruption (including facilitating payments). Corruption and bribery may lead to unfair pricing of pharmaceutical products vital to the operations of healthcare systems in the markets where we operate. Corruption and bribery can also expose Fagron to possible criminal prosecution, fines, reputational damage, and other serious consequences. A bribe or any other form of corruption is therefore never acceptable.
Our annual target:
- 90% of employees complete the annual Code of Conduct & Ethics training
Grievance mechanism
We recognize the importance of a well-functioning grievance mechanism, as it plays an essential part in preventing and in gaining insight into practices that may not be aligned with rules and regulations or our Code of Conduct & Ethics.
Fagron believes it is important that all employees know how the grievance mechanism works and that access to the grievance mechanism is as easy as possible. To ensure this goal, the annual Code of Conduct training explicitly addresses the grievance mechanism and in due course, all employees will have access to a confidential counsellor.
Our target for 2025:
- All employees have access to a confidential counsellor.
Remuneration of executives
The remuneration of executives at Fagron is designed to align with the long-term interests of shareholders, serving as a mechanism to attract and retain top-tier executive talent. Simultaneously our approach emphasizes the importance of maintaining a reasonable gap between employee and executive compensation. This consideration is closely related to our broader policies on compensation and benefits for employees. Recognizing the potential impact on employee engagement, we are committed to ensuring a fair and balanced remuneration structure that fosters a harmonious and motivated workforce.
