Group general counsel | Nilfisk
Elsie Yiu
Group general counsel | Nilfisk
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
My approach in always to provide solutions for the business organisation, helping them navigate reputational and/or operational crises. The key is to help teams determine the risk profile of the organisation; depending on the risk appetite, we can then identify and commit to the best possible solution among available options.
Given the current unstable geopolitical environment, the agility of the legal team is of paramount importance in aligning with the broader business strategy, even when supporting pro-active crisis management and risks mitigation. To do this, legal strategy should include the following elements:
Setting up governance process on what the company should do when there are “out of blue” reputational and/or operational crisis, e.g. how and when a particular crisis should be escalated to senior management/board/external investors/ regulators and customers; setting up governance process to ensure up to date business continuity plan and finance contingency plan are in place; monitoring red flags for the business organisation (including monitoring its strategic partners such as supply chain and distribution networks); lastly, attracting, developing and retaining good legal talents.
What are the major cases or transactions you have been involved in recently?
The major cases that I have been involved in: (a) a USD 20 million lawsuit in the US where we currently have a dispute with the landlord of a premise that was destroyed by a hurricane.
What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?
At Nilfisk, we commit to embracing sustainable development and addressing climate. We also make commitment to abide human rights, labour rights, and good governance throughout our supply value chain.
Nilfisk’s Supplier Code of Conduct was rolled out and driven by the legal department. With this policy, Nilfisk reiterates the importance that our suppliers behave in an honest, fair and responsible way, incl. asking our suppliers to adhere to the code. This includes the code of ethics on corruption, sanction laws and data privacy practice, adhering to basic labor rights as well as health and safety practices, and demanding that suppliers take practical steps to limit their impact on climate and environment.
What emerging technologies do you see as having the most significant impact on the legal profession in the near future, and how do you stay updated on these developments?
Any successful legal department should investigate how AI technologies can advance the operational efficiency of the legal department, e.g. routine but time-consuming tasks which can be partly lessened by utilising AI-supported solutions.