To protect its image, the expectations of its shareholders and the work of employees, YOOX NET-A-PORTER GROUP has adopted an advanced Organizational Model, which ensures conditions of accuracy and transparency in the conducting of business
In an effort to strengthen its environment of control and the rules instituted, YOOX NET-A-PORTER GROUP has adopted its own organizational model, as provided for by Legislative Decree No. 231/2001.
Components of the Model
In addition to the Model document, the following are integral parts thereof:
- the Corporate Code of Ethics;
- the organization and system for assigning proxies and responsibilities to people working within the Company in areas at risk for potential crimes;
- the identification of Areas Potentially at Risk for crimes, by applying a solid risk assessment methodology;
- the system on policy, procedures and internal controls aimed at guaranteeing adequate transparency and traceability of the decision-making and financial processes, as well as the behaviours of corporate actors;
- training activities and connected information;
- the disciplinary system and the relative sanctioning mechanism to be applied if the Model is violated;
- the establishment and operation of the Supervisory Body.
Purposes of the Model
Establishing an organizational model has the purpose of:
- documenting the macro characteristics of the Company’s prevention and control system, which is aimed at reducing the risk of commiting crimes related to corporate activity;
- to make all those working in the name of and on behalf of YOOX NET-A-PORTER S.p.A. aware of the existence of a sanction system which affects anyone violating the provisions indicated therein, even potentially terminating a contract;
- confirming that YOOX NET-A-PORTER S.p.A. does not tolerate unlawful behaviours.
Has an essential role in verifying the efficacy of and compliance with the Model for organization, management and control adopted
Equipped with autonomous powers of initiative and control, the current Supervisory Body – appointed by the Board of Directors meeting on 20 April 2018 – is comprised of three members who shall remain in office until the financial statements as of 31 December 2020 are approved:
Name and surname
external member (Chairman)
Matteo James Moroni
internal member and Supervisor of the Internal Audit function
Duties of the Supervisory Body
The Supervisory Body is asked to:
- oversee the effectiveness of the Model;
- conduct a close examination as to the adequacy and efficacy of the Model in preventing, as much as possible, behaviours which do not conform to the corporate directives, culture and rules;
- conduct an analysis about maintaining within the time limit, requirements of stability and functioning of the Model;
- see to the necessary dynamic updating of the Model, by making specific suggestions, in the event that the analyses performed render it necessary to make corrections and adjustments;
- perform the so-called“follow-up,” i.e. check on the implementation and actual functionality of the solutions proposed.