How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience? 

During crises, I conduct continuous cost-benefit analyses questioning every step and ensuring decisions align with the company’s strategic goals. This constant evaluation of alternatives, whether mainstream or innovative, allows us to opt for the path which is fit for purpose, balancing legal and compliance soundness with business objectives.

Effective crisis management hinges on strong communication, visibility and disclosure. We establish robust communication channels with all involved parties, ensuring commitment and alignment towards achieving business goals. This involves regular updates with management, both top and middle, as well as with stakeholders, fostering a common approach on things.

Regarding risk assessment, my role is pivotal in identifying, evaluating, and managing risks. In my capacity as elected risk officer I have gained a profound knowledge of company’s business and aim at risk identification and appointment of risk owners, risk assessment, mitigation, monitoring, and reporting.

We proactively identify potential implications and provide the necessary legal tools to address them. For instance, during difficult negotiations, where it may seem there is no touchpoint, we introduce creative legal arguments and provisions to overcome dead ends and safeguard our interests. This proactive approach ensures that risks are timely mitigated and projects stay on course, supporting the company’s vision and objectives.

One significant achievement illustrating this approach was our recent (December 2022) share capital increase via Athens Stock Exchange raising approximately €51mn. This capital infusion provided the necessary resources for us to follow our ambitious 5-year business plan vis a vis innovation in health, a fundamental part of our vision. This success, mainly due to profound compliance, risk assessment and corporate governance structures, not only demonstrated our ability to deliver tangible outcomes but also validated the excellence of our work, directly contributing to the organisation’s financial growth.

To conclude, our approach, grounded in robust communication, continuous self-evaluation, and comprehensive risk management and corporate governance, ensures the organisation’s resilience and supports its long-term vision. This integrated business legal strategy not only addresses immediate challenges but also ensures company’s sustainability.

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?

In Lavipharm, a company listed in the Athens Stock Exchange, I hold a pivotal role in embedding sustainability practices into our core business operations. Corporate governance and ESG legal framework are the cornerstones of these efforts, acting as a solid framework to create a sustainable and equitable environment.

We use corporate governance as a tool to integrate environmental, social, and governance (ESG) practices into our decision-making processes, while promoting a fair and transparent corporate culture. Effective communication with stakeholders is crucial for embedding sustainability into our operations. I regularly engage with stakeholders to emphasise the importance of strong corporate governance in identifying and managing risks. This proactive approach not only enhances the quality of working life but also elevates the company’s reputation. By highlighting the significance of accountability and transparency, we reinforce responsible decision-making and long-term value creation.

Accountability is a fundamental aspect of sustainable corporate governance. It ensures that our company remains committed to ethical practices and responsible management. ESG legislation (CSRD and the coming CSDDD), underscores the importance of this accountability.

To ensure that our stakeholders are well-versed in the ESG legal framework, we encourage the implementation of relevant policies and questionnaires, on-site visits and collaborative relationships with suppliers, supply tiering and ranking and raising awareness about ESG issues.

My responsibilities include ensuring compliance with ESG legislation, advising and training the board of directors on sustainability issues and overseeing the implementation of our sustainability strategy. By fostering a culture of accountability and transparency, we help Lavipharm navigate the complex landscape of ESG regulations and maintain its commitment to sustainable business practices. Our goal is to create a sustainable environment to our employees, stakeholders, patients and society at large.