Corporate Code of Conduct
Act with integrity.
Be honest.
Follow the law.
Comply with the Code.
Be accountable
Dear Colleague:
We live in an era when public trust and confidence in business are among the lowest levels in history. We at The DAFFODIL PHARMACHEM PRIVATE LIMITED are fortunate, however, to work for one of the most admired businesses in the world – a reputation that has been enhanced and safeguarded over the years by a rich culture of integrity and ethical conduct.
Our business is built on this trust and this reputation. It influences how buyer’s feel about our products, and how share owners perceive us as an investment. As former Company Board member Warren Buffett once reminded us, “it takes years to build a reputation and only a few seconds to ruin it.” Because our success is so closely related to our reputation, it’s up to all of us to protect that reputation.
Acting with integrity is about more than our Company’s image and reputation, or avoiding legal issues. It’s about sustaining a place where we all are proud to work. Ultimately, it’s about each of us knowing that we have done the right thing. This means acting honestly and treating each other and our customers, partners, suppliers and consumers fairly, and with dignity.
The Code of Business Conduct is our guide to appropriate conduct. Together with other Company guidelines, such as our Workplace Rights Policy, we have set standards to ensure that we all do the right thing. Keep the Code with you and refer to it often. Stay current with your ethics training. When you have questions, ask for guidance. With your help, I am confident that our Company will continue to deserve the trust that everyone has in us. Our reputation for integrity will endure. Thank you for joining me in this effort.
Sincerely,
Jitu Patel
President
“We are wired to win your trust!!”
Acting with Integrity
Acting with Integrity is fundamental to DAFFODIL PHARMACHEM PRIVATE LIMITED.
Along with our other values of leadership, passion, accountability, collaboration, diversity and quality,it is a pillar of our Manifesto for Growth. Integrity means doing what is right. By acting with integrity, we reflect positively on the image and reputation of the Company and its brands in the over 200 countries where we operate.
“Life is change. Growth is optional. Choose wisely.”
Administration of the Code
Disciplinary Actions
The Company strives to impose discipline that fits the nature and circumstances of each Code violation. The Company uses a system of progressive discipline, issuing letters of reprimand for less significant, first-time offenses. Violations of a more serious nature may result in suspension without pay; loss or reduction of merit increase, bonus or stock option award; or termination of employment.
When an employee is found to have violated the Code, notation of the final decision, and a copy of any letter of reprimand, will be placed in the employee’s personnel file as part of the employee’s permanent record.
Reporting of Code Decisions and Investigations
The Ethics & Compliance Office periodically reports all pending Code investigations and final Code decisions, including disciplinary actions taken, to senior management of the Company and to the Audit Committee of the Board of Directors. The Ethics & Compliance Office also posts a representative sample of Code violations, with personal identifying characteristics removed, on the Ethics & Compliance intranet site for the education of employees.
Signature and Acknowledgement
All new employees must sign an acknowledgement form confirming that they have read the Code of Business Conduct and agree to abide by its provisions. All employees will be required to make similar acknowledgements on a periodic basis. Failure to read the Code or sign the acknowledgement form does not excuse an employee from compliance with the Code.
Waivers
Waivers of any provisions of this Code for officers of the Company must be approved by the Board of Directors or its designated committee and will be disclosed promptly to the extent required by law.