Signature of a European Agreement between EFFAT (European Federation for Food, Agriculture and Tourism Trade Unions) and PERNOD RICARD on Corporate Social Responsibility

Regulatory News:

Press release - Paris, 13 January 2014

On 7 January 2014 in Paris, Pernod Ricard (Paris:RI) and EFFAT (European Federation for Food, Agriculture and Tourism Trade Unions) concluded a European agreement on Corporate Social Responsibility, in the presence of Pierre Pringuet, Chief Executive Officer of Pernod Ricard and Harald Wiedenhofer, General Secretary of EFFAT.

By signing this document, which is applicable to all the Group’s subsidiaries within the European Union representing more than half of the global workforce, Pernod Ricard and EFFAT are expressing their desire to see the Group create a framework for its international expansion by encouraging its subsidiaries to go beyond legal and regulatory requirements in the area of CSR.

Developed in conjunction with the European Works Council, this agreement is part of a joint voluntary approach undertaken by the three stakeholders. Its aim is to develop an attractive CSR policy – it will therefore apply equally to all of the Group’s subsidiaries within the European Union, pre-empting applicable local legislation and collective agreements, particularly in terms of health and safety at work, social dialogue, death in service cover, contributing to social and economic development, and reducing environmental impacts.

Since its creation, Corporate Social Responsibility has always been at the core of Pernod Ricard’s strategy. It is based on a platform consisting of four priorities: respect for all stakeholders, promoting responsible drinking, protecting the environment, the sharing of cultures and supporting entrepreneurial initiatives.

Group employees are the leading ambassadors of these commitments, as shown for the second time by the "I say" internal survey carried out by the specialist independent consultancy, Towers Watson, which found that 94% of employees adhere to the Group’s values and are proud to belong to it. Similarly, 91% of them feel that their company is socially responsible.

The gradual implementation of this agreement within EU based subsidiaries, formalised by the express undertaking of their Chief Executive Officers, will be completed within a reasonable timeframe. Pernod Ricard also wishes to roll this agreement out progressively to its subsidiaries throughout the world.

Each year, Group Management will issue an assessment of the agreement’s implementation, to be presented to the Pernod Ricard European Works Council (made up of 25 members) and EFFAT.

"Since its inception, Pernod Ricard has always placed Corporate Social Responsibility at the heart of its development. This European agreement, the first at a regional level, is in keeping with a shared and sustainable commitment. Respect for our stakeholders, responsible drinking, protecting the environment and the sharing of cultures are values that are jointly held by our 19,000 employees,” stated Pierre Pringuet, Pernod Ricard’s Chief Executive Officer.

"Socially responsible behaviour means doing more than just respecting the legal rules in force. We therefore congratulate ourselves on this joint initiative with Pernod Ricard. Most important for us is our commitment to stable employment and to promoting close collaboration and consultation with unions and works councils. Only by working together will this programme be implemented successfully within companies,” commented Harald Wiedenhofer, General Secretary of EFFAT.

About Pernod Ricard
Pernod Ricard is the world’s co-leader in wines and spirits with consolidated sales of € 8,575 million in 2012/13. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin & Sprit (2008). Pernod Ricard holds one of the most prestigious brand portfolios in the sector: Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo and Graffigna wines. Pernod Ricard employs a workforce of nearly 19,000 people and operates through a decentralised organisation, with 6 "Brand Companies” and 80 "Market Companies” established in each key market. Pernod Ricard is strongly committed to a sustainable development policy and encourages responsible consumption.
Pernod Ricard’s strategy and ambition are based on 3 key values that guide its expansion: entrepreneurial spirit, mutual trust and a strong sense of ethics. Pernod Ricard is listed on the NYSE Euronext exchange (Ticker: RI; ISIN code: FR0000120693) and is a member of the CAC 40 index.