Recognising growing public concern around this topic, in 2013 the Board of Directors created a sub-committee to address Richemont’s security awareness and preparedness. Since its formation, the Strategic Security Committee has focused on this wide-reaching and complex matter.
The Strategic Security Committee aims to provide a secure environment and to protect Group assets and operations against attack and other forms of breach. In particular, the Committee seeks to protect confidential business information, including customer data, against hacking and other intrusive actions. It also oversees the physical protection of employees.
Richemont’s Group Security Policy was launched in 2015. Details regarding the Policy’s tailor-made, holistic approach may be found in the 2016 CSR Report Case Study. In summary, the Policy takes a collaborative approach, putting physical, electronic and information security under the same roof. The Policy booklet for employees is available in eleven languages, in both desktop and mobile versions. In 2017-18, the Policy was enhanced through the creation of a ‘one stop shop’ for all security matters, providing better support to operations around the world.
During the year under review, the Group completed its two-year General Data Protection Regulation (GDPR) implementation plan. The new European laws were designed to harmonize data protection and privacy laws across Europe, to protect and empower all EU citizens with respect to their personal information and to reshape the way organizations approach data protection and privacy. Other regulators around the world are expected to follow the GDPR standard and Richemont’s approach to data protection and privacy seeks to achieve a global standard.