Risk management

Risks are part of our day-to-day business and within this section we describe how we identify and control these day-to-day risks. Vedior’s risk management framework is aligned with the Group’s decentralised business model and organisational structure. Local management expertise is considered one of our most valuable assets, as operating company management and their staff are best positioned to understand and respond to local market needs and opportunities as well as to inherent risks. In order to keep expertise within acquired companies and to retain staff and clients, it is our normal practice to encourage local management to remain in place after acquiring a company by offering them the possibility of keeping a minority share in their respective company.

The Group is divided into four geographical zones that are managed by Zone Managers. Three out of these four Zone Managers are also members of the Board of Management. Close relationships exist between our operating company staff, corporate officers, zone management and other Board Members. This organisational structure enables us to service and control our operating companies in a pragmatic and efficient way in order to achieve the Group’s business objectives.

Throughout the Group actions, procedures and guidelines exist to cover one or more risk areas at both a corporate and local level. Examples include internal policies and procedures, defined organisational structures with appropriate delegation of authority, and clear reporting guidelines and systems.