Committees

The Audit Committee, Compensation Committee and Nomination Committee are the three standing committees of the Board. Temporary committees are created on specific topics as required.

Committees

Audit Committee

  • Hubert Achermann, Chairman
  • Gerold Bührer
  • Roger Michaelis

The Audit Committee consists of three Board members. The Audit Committee supports the Board of Directors in monitoring accounting and inancial reporting, supervises internal and external audits, assesses the eiciency of the internal audit system including risk management and compliance with statutory provisions, acknowledges the sensitivity analy sis of the pension funds of Georg Fischer Ltd, and issues its opinions on transactions concerning equity and liabilities at Georg Fischer Ltd. The Audit Committee also decides whether or not the consolidated inancial statements and those of Georg Fischer Ltd can be re commended to the Board of Directors for presentation to the Annual Shareholders’ Meeting.

As a rule, the Chairman of the Board, the CEO, the CFO, the Head of Internal Auditing, and representatives of the external auditor also attend the meetings. At the request of the Audit Committee the external auditor also provides information on current questions relating to the financial statements and financial issues.

During the business year just ended, the Audit Committee held seven meetings, three of which lasted half a day, and the other four lasted about two hours.

Compensation Committee

  • Eveline Saupper, Chairman
  • Roman Boutellier
  • Jasmin Staiblin

The Compensation Committee consists of three Board members, which are elected on a yearly basis by the Annual Shareholders’ Meeting. It supports the Board of Directors in setting compensation policy at the highest corporate level. It uses knowledge of external compensation specialists about market data from comparable companies in Switzerland, in addition to publicly available data obtained on the basis of compensation disclosures. Comparable industrial corporations headquartered in Switzerland and the industrial market of Switzerland were used as a basis. In the reporting year, two comprehensive external expert opinions were commissioned regarding the remuneration of the Board of Directors and of the Executive Committee. The Compensation Committee proposes to the Board of Directors the total amount of compensation to be paid to the entire Executive Committee and the Chief Executive Oicer. The Compensation Committee held three meetings during the past iscal year, each of which lasted about an hour and a half.

Nomination Committee

  • Andreas Koopmann, Chairman
  • Roman Boutellier
  • Zhiqiang Zhang

The Nomination Committee consists of three Board members. It supports the Board of Directors in succession planning and assists in the selection of suitable candidates for the Board of Directors and the Executive Committee. The Nomination Committee is kept informed annually about succession planning for the two senior operating management levels. In the year under review, the Nomination Committee held three meetings, which lasted an hour and a half on average.

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