Codif: a guide to enhancing governance
Cereal Docks has endorsed the Code of Conduct for non-listed family owned companies – briefly known as Codif – promoted by AIDAF, the Italian Association of Family Businesses, and Università Bocconi. The Code promotes the voluntary adoption of an evolved and modern model of corporate governance, aiming to improve the effectiveness of internal decision-making processes in family-owned companies.
In addition to Cereal Docks, other companies with long family tradition such as Adler Group, Chiorino, Eigenmann & Veronelli, Epta, Feralpi, Frescobaldi, Gruppo Grendi, Irinox, Lumson, Missoni, Successori Reda and Vitale Barberis Canonico, as well as investors such as FSI (Italian Strategic Fund), have decided to participate in the Codif.
With this initiative, Cereal Docks intends to continue to strengthen its management model, looking at the international context, where in several European countries the Codes of Conduct already represent a reality for non-listed companies. The advantages of good governance are well-established: open Boards of Directors improve the performance of family-owned companies, simplify succession processes, increase opportunities to make acquisitions, and promote internationalization, as well as improving their reputation.
This is an challenging project, which aims to promote the real benefits of a system of corporate governance to allow the family owner to express a clear and conscious corporate vision, while dealing with the best financial, human, managerial resources available on the market. This can translate into a number of benefits, including the ability to draw a clear distinction between personal family ownership and business assets, encourage growth processes while reducing risk, attract and motivate valuable non-family managers, and prepare for opening up to financial markets.