Andrea Bovarini

#Duediligence Alert: The Italian Competition Authority (AGCM) has fined #GiorgioArmani SpA and GA Operations SpA €3.5 million for misleading ethical and social responsibility statements that didn't reflect the actual working conditions at suppliers and subcontractors to whom production had been outsourced. This follows the #Dior case a few months ago. The AGCM cited declarations in the Armani Code of Ethics, the Armani Values website (www.armanivalues.com) and the Armani website (www.Armani.com). Giorgio Armani SpA responded with surprise and plans to challenge the decision in the Regional Administrative Court (TAR), stating that they have always operated in fairness and transparency. This is the latest in the growing list of cases brought by competition authorities in France and Italy against companies whose #humanrights and #environmental claims are vague, unsubstantiated or false. It's important to note that the crux of the matter in each case was the failure to conduct due diligence, including the tracing and verification of production sites and standards. EU due diligence laws may be in flux, but prosecutors and competition authorities are reminding us that the risks to consumers, investors, companies and stakeholders are real. What should companies do now? Doubling down on announced audits of known suppliers will achieve nothing. This is not about the knowns, it's about the unknowns, the risks of subcontracting, of price-driven corner-cutting. Companies need to ask themselves how they may be causing or contributing to supplier attempts to evade labour laws, collective agreements, taxes and social security contributions. In short, companies need better risk identification, then they can target their audits. Michael Posner Dorothee Baumann-Pauly Justine Nolan Markus Löning Christine Kim Equiception Business and Human Rights Simone Cipriani Matteo Ward Ken Pucker

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Just read Alberto Dalmasso's take on unlimited PTO at Satispay. It got me thinking... 🚨𝐔𝐧𝐥𝐢𝐦𝐢𝐭𝐞𝐝 𝐏𝐓𝐎 (𝐚𝐤𝐚 𝐡𝐨𝐥𝐢𝐝𝐚𝐲𝐬) 𝐨𝐟𝐭𝐞𝐧 𝐦𝐞𝐚𝐧𝐬 𝐮𝐧𝐥𝐢𝐦𝐢𝐭𝐞𝐝 𝐠𝐮𝐢𝐥𝐭, 𝐧𝐨𝐭 𝐮𝐧𝐥𝐢𝐦𝐢𝐭𝐞𝐝 𝐫𝐞𝐬𝐭 Here's what we learned the hard way at Coverflex: When you remove PTO limits, you don't remove constraints, you remove clarity. -> High performers see time off as weakness signalling -> Managers give mixed messages about coverage -> People take fewer days than with traditional policies -> Humans hate ambiguity more than strict rules. "Take as much as you need" becomes "how little can I get away with?" At Coverflex, we stopped asking "How do we give maximum flexibility?" and started asking "What makes people actually feel safe to disconnect?" ✅ 25-day minimum (not maximum) ✅ Manager training on coverage planning ✅ Milestone sabbaticals every 5 years 𝐋𝐨𝐨𝐤, 𝐬𝐭𝐚𝐫𝐭𝐮𝐩𝐬 𝐚𝐫𝐞 𝐢𝐧𝐭𝐞𝐧𝐬𝐞. We're David fighting Goliath with limited resources and unlimited ambition. But intensity without recovery isn't sustainable. It's just burnout with better marketing. The best teams I know work hard and rest hard. They understand that peak performance requires both gas and brakes. 👉 𝐖𝐡𝐚𝐭 "𝐩𝐫𝐨𝐠𝐫𝐞𝐬𝐬𝐢𝐯𝐞" 𝐩𝐨𝐥𝐢𝐜𝐲 𝐚𝐭 𝐲𝐨𝐮𝐫 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐬𝐨𝐮𝐧𝐝𝐬 𝐠𝐫𝐞𝐚𝐭 𝐢𝐧 𝐭𝐡𝐞𝐨𝐫𝐲 𝐛𝐮𝐭 𝐜𝐫𝐞𝐚𝐭𝐞𝐬 𝐮𝐧𝐢𝐧𝐭𝐞𝐧𝐝𝐞𝐝 𝐩𝐫𝐞𝐬𝐬𝐮𝐫𝐞 𝐢𝐧 𝐩𝐫𝐚𝐜𝐭𝐢𝐜𝐞? Similar to unlimited PTO. Maybe flexible hours without clear communication norms. Maybe "results-only" cultures that still reward visible busy work. The pattern is the same: we announce progressive policies, then wonder why the outcomes don't match our intentions.

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𝐓𝐗𝐓 𝐆𝐫𝐨𝐮𝐩 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐬 𝐭𝐨 𝐢𝐧𝐯𝐞𝐬𝐭 𝐢𝐧 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐚𝐧𝐝 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧, expanding our portfolio and strengthening our expertise in Artificial Intelligence. We are excited to welcome Altilia, an Italian deep-tech company specializing in AI solutions for intelligent document and decision-making process automation with human-level precision and accuracy, supported by a team of experienced AI scientists, researchers, and engineers who bring deep expertise and drive innovative automation. With Altilia joining the Group, we combine their cutting-edge technology with TXT’s proven experience in delivering 𝐞𝐧𝐝-𝐭𝐨-𝐞𝐧𝐝 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 across industries. This strategic step enhances our ability to support clients in their digital transformation journeys, leveraging AI to create tangible value and accelerate innovation. Altilia’s platform leverages sophisticated machine learning to efficiently build and deploy AI models for document processing. By enabling enterprises to automate these workflows, Altilia helps organizations 𝐚𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐞 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐢𝐧𝐠 𝐭𝐢𝐦𝐞𝐬, 𝐫𝐞𝐝𝐮𝐜𝐞 𝐫𝐞𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐦𝐚𝐧𝐮𝐚𝐥 𝐭𝐚𝐬𝐤𝐬, 𝐚𝐧𝐝 𝐟𝐫𝐞𝐞 𝐮𝐩 𝐫𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬. 🚀 𝐖𝐢𝐭𝐡 𝐀𝐥𝐭𝐢𝐥𝐢𝐚 𝐞𝐧𝐭𝐞𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐗𝐓 𝐆𝐫𝐨𝐮𝐩, 𝐰𝐞 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐨 𝐬𝐡𝐚𝐩𝐞 𝐭𝐡𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐀𝐈.  TXT Group welcomes Altilia to the team! 🔗 Learn more about Altilia and its solutions: https://www.altilia.ai/  🔗 Read our press release: https://lnkd.in/diqtsPNu #TXTGroup #AI #Technology #Innovation 

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