ETHICS AND COMPLIANCE HIGHLIGHTS
Responsible governance is the cornerstone of everything we do at Hexcel. We have implemented a robust ethics and compliance program overseen by our board of directors to ensure compliance with applicable laws and regulations governing ethical business practices. The Hexcel Business Code of Conduct establishes a comprehensive framework for compliance to promote accountability, and 100% of Hexcel officers, directors and salaried employees are required to certify compliance with the Code of Business Conduct annually.
Ethics and Compliance Training
In 2022, reflecting a commitment to continuous improvement, we conducted company-wide ethics and compliance training and solicited feedback related to our culture of compliance using an anonymous survey at the conclusion of the training.
Protection of Human Rights
We do not tolerate the infringement of human rights, modern slavery, or forced or child labor. We do not conduct business with those that do. As such, we expect the same of our partners and suppliers throughout our global supply chain. The majority of our business is in six countries, specifically the United States, France, United Kingdom, Spain, Germany, and Austria. More than 90% of our employees are located in these countries, and approximately 80% of our purchasing in fiscal year 2023 and the four prior years was invoiced from these countries. Each of these countries have strong cultural values supporting human rights and prohibiting modern slavery, forced and child labor, with robust enforcement.
SUPPLY CHAIN INTEGRITY
At Hexcel, we operate in accordance with the highest ethical and legal standards, and we strongly believe in upholding human rights principles and fair labor practices within our organization and our supply chain. We require 100% of our critical direct suppliers to commit, through our Supplier Code of Conduct, to comply with all applicable laws where they do business, including laws related to equal opportunity and non-discrimination, and laws prohibiting forced labor, human trafficking and slavery. Our Supplier Code of Conduct is continuously reviewed and enhanced, such as the addition of strengthened sustainability and cybersecurity requirements in 2022.
Supply Chain Transparency
We strive to partner with suppliers that uphold our values. As such, we have incorporated sustainability criteria into our audits and supplier risk assessments, and we distribute sustainability questionnaires to key global suppliers each year.
CYBERSECURITY
At Hexcel, we are committed to the security of our products and services, the protection of employee, customer and Hexcel data and the safeguarding of our manufacturing capability. We leverage the latest encryption configurations and cybertechnologies, and continuously monitor and audit our information technology and data assets to detect any anomalies and to respond quickly to threats that may arise. Our senior executive leadership are directly involved through a formalized response team that regularly participates in tabletop exercises simulating cyberattacks. Our board actively oversees our cybersecurity practices, with our Chief Information Officer regularly reporting directly to our board.
