Which recent political, economic, or regulatory changes have impacted the company and the team the most?

It is well known that during, at least, the last five years, several political, economic, and regulatory changes have taken place globally and materially affected local enterprises. For example, we are all aware of quite rapid advances in technology and data protection legislation, the rapid globalisation of trade (through e-commerce) and information exchange, the economic crisis and turmoil in world financial markets, as well as the increased focus on corporate governance, compliance, and enforcement. Additionally, the Covid-19 pandemic has also affected the operation of any company in ways such as order delays, lack of raw materials, as well as impacting its core departments – teleworking, minimizing of personnel and more.

In what ways do you see the in-house legal role evolving in your region over the next few years?

To cope with all the above-mentioned changes and the new demands that these changes have created, the role of the in-house lawyer has had to evolve and expand into new areas, i.e., corporate, and external affairs, regulatory and government affairs, human resources, crisis management, corporate security, cyber security, information security and data privacy. Great ways to safeguard the future of the legal function, among all these changes, would include the in-house lawyer being a visible and engaged business leader, being innovative and embracing change, taking a strategic approach to the legal advice they provide, developing people skills, expanding management, business finance and leadership skills. And, most importantly, we need to expect that our role, as in-house lawyers, will keep changing, therefore we must become a commercial advisor, a strategic thinker, a forward planner, and an excellent communicator (The evolving role of in-house counsel, 2022 The Centre for Legal Leadership).

How has the increasing consciousness of climate change and sustainability affected the company and the team’s priorities?

Our company has always followed anti-corruption practices and has been committed to the principles of corporate responsibility, climate change and human rights. To organise and formalise all such procedures, which were communicated to the company’s board and employees, Gerolymatos International has decided to officially incorporate and prepare all necessary documentation, so that the company will be in full compliance with ISO 26000. As you may already know, ISO 26000 standard provides guidance on recognising social responsibility and engaging shareholders, as well as ways to integrate social responsibility behavior into the organisation. The seven core subjects and issues pertaining to social responsibility are: organisation governance, human rights, labour practices, the environment, fair operating practices, consumer issues, community involvement and development. As of October 2021, the company has started preparing all necessary official codes and has started building specific practices, in written forms, to be harmonised with ISO 26000.