Head of legal and compliance | Alcon
Nihat Aral
Head of legal and compliance | Alcon
Team size: Three
What are the most significant cases or transactions that your legal team has recently been involved in?
The year 2023 proved to be a tumultuous period for Alcon, akin to many other companies, amidst the economic upheaval in Europe, particularly impacting the Turkish economy. This turbulence manifested in several key areas for us: (i) navigating relations with financially strained distributors and customers, (ii) devising pricing strategies, and (iii) embarking on digital transformation initiatives. The economic instability influenced pricing strategies across our distributor network and customer base, as well as our shareholding structure.
In response, we undertook projects aimed at mitigating financial risks for both Alcon and our stakeholders, such as the assignment of receivables from various parties. Additionally, we executed intra-group share transfers, involving the drafting and review of share purchase agreements and subsequent legal procedures. The same economic challenges prompted rigorous competition law analysis, particularly regarding price adjustments and potential claims from former employees and customers. Furthermore, our legal team spearheaded digital transformation efforts, implementing new programs within our Turkish operations to streamline contract drafting, archiving, and management for both business and legal teams.
What strategic priorities are guiding you and your team in 2024?
In 2024, we are committed to prioritising Environmental, Social, and Governance (ESG) measures, aligning with sustainability trends in the market. We are steadfast in our efforts to finalise the implementation of contract standardisation and AI-supported projects initiated during our digital transformation journey in 2023. Additionally, we continue to place significant emphasis on supporting and guiding our vision care and surgical franchises from a legal perspective to ensure their continued financial success.
Do you have a cause, business-related or otherwise, that you are passionate about?
As a results-driven general counsel, I am deeply committed to supporting our franchises in their commercial decisions by proactively identifying and mitigating legal risks. In my view, effective legal advice should not only outline legal consequences but also consider the company’s goals and commercial standpoint. In this context, I am passionate about contributing to the overall success of the company I serve in my legal capacity.