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Corporate governance
Risk management
The Group is subject to a wide range of laws and regulations in France
Terrorism and crime
and abroad governing the operation of establishments open to the
Due to a multitude of counterparts, the vast number of sites and its
public, consumer protection, relationships between industry and retail,
activity involving considerable human, product and financial flows, the
and regulations specific to certain activities (such as banking,
mass retail sector is particularly exposed to risks of crime and
insurance, e-commerce, real estate and service stations).
terrorism, with significant direct and indirect impacts, especially in
The local Legal department in each country is responsible for
stores.
monitoring regulations and taking them into consideration, under the
Preventive and protection measures for each site are determined based
coordination and supervision of the Group legal department. With a
on risk exposure, with regular review of the systems and adjustments
focus on anticipation and optimal allocation of resources, the Group
made based on the development of threats.
legal department has also developed and implemented a legal risk
mapping process, specifically taking into account the environment,
Events occurring in 2015 in several countries where the Group
pressure and regulatory developments.
operates led the group to revalidate and, where applicable, readjust the
prevention and crisis management systems.
The Group also monitors regulatory developments on personal data
protection and consumer information that are currently under
Strategy and governance
3.5.1.2
discussion in France and in Europe.
Changes in the sector and the competitive
Strategy definition, adjustment
environment
and implementation
Highly exposed to changes in consumer behaviour in a world of
As with project management or restructuring problems, in an
changing technology, the retail sector is characterised by strong
uncertain and complex political, economic, social and competitive
competitive dynamics with saturated markets in Europe and relatively
environment, the ineffective or unsuitable design, communication and
low margins. This drives constant rapid changes within the sector,
execution of the Group’s vision and strategy may damage its
which could impact the Group’s activity and performance.
reputation and its financial and operational performance.
The changing competitive environment is monitored and addressed at
Under the coordination of general management and as part of
country level, and handled at Group level by the general management,
overseeing activities and the principal action plans, extensive work is
in an effort to anticipate and identify growth opportunities or decisions
underway at the country level to develop the strategy, with a regular
to be made.
review of objectives and commitments enabling optimal allocation of
Natural disasters and climate change
resources.
Compliance and fair practices
In most countries where it operates, the Group may be exposed to
natural disasters, with direct or indirect impacts on its activities, its
In an increasingly litigious world, with regulatory authorities having
assets and its employees, and consequences for its financial position.
broad power, the failure to comply with regulations and contractual
In a context of climate change, changing meteorological conditions
commitments, within the scope of the Group’s operational activities
may also impact its operations, especially with regard to customer
and in its relations with its employees, can have a significant impact on
behaviour.
its financial performance and its reputation.
Since 2008, the Group has conducted extensive work to improve the
As part of its preventive approach at the Group and country levels, the
management of natural risks in its operations, and in 2014 updated its
Group legal department creates and implements information and
risk mapping in order to develop knowledge, improve assessment,
training programmes involving all employees concerned. The top
adapt preventive measures and adjust insurance coverage. This work
fundamental principle of the Group Code of business conduct, which
was carried out in all countries where the Group operates, either
applies to all employees, emphasises strict compliance with
directly or through franchises, with a forward-looking exercise related
regulations wherever the Group operates and in all of its activities. The
to climate change, specifically through a mapping of natural risks,
Company’s ethics system is presented in chapter
2 of the Registration
assessments by risk and by country to identify ‘sensitive’ sites and
Document on Corporate Responsibility.
prevention fact sheets.
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2015 REGISTRATION DOCUMENT