GRI disclosures 103–2, 103–3

Governance, ethics and compliance

GRI disclosure 102–18

Governance structure

Effective and transparent governance is central to the success of the company. Swatch Group implements lean and efficient governance structures at all levels.

While the Board of Directors is responsible for executive management, the Executive Group Management Board is responsible for operational management tasks, in which it is supported by the Extended Executive Group Management Board. The Board of Directors is made up of six members and has an Audit Committee and a Compensation Committee.

↗ For further information on the governance structure, please refer to the Corporate Governance Report in the Swatch Group Annual Report 2021

Sustainability governance

The Executive Group Management Board is responsible for ensuring compliance with the Group’s high standards in the area of sustainability. It embeds the approach to corporate responsibility in the corporate strategy and defines specific targets and measures. Implementation is coordinated and managed by the Sustainability Steering Committee, which consists of representatives from the Executive Group Management Board. The Group’s approach to corporate responsibility is approved by the Board of Directors, which has the ultimate responsibility.

Swatch Group sustainability organization chart

Sustainability Steering Committee

The Sustainability Steering Committee is responsible for Swatch Group’s strategy and performance in the area of sustainability. The members are in constant contact with the Sustainability Team and meet every two months. In the year under review, three of the nine Executive Group Management Board were members of the Sustainability Steering Committee.

Sustainability Team

The Sustainability Team implements the Group’s sustainability strategy and policies as directed by the Sustainability Steering Committee. The team supports the operating entities and corporate functions in their projects and initiatives and serves as a communication platform for the individual Group companies.

The Sustainability Team consolidates the sustainability data of the operating entities and Group functions and prepares the Group’s sustainability report. It answers questions from internal and external stakeholders.

Sustainability officers

The sustainability officer ensures the advancement of the Group’s sustainability strategy by defining and implementing a specific road map for the individual company entities.

The sustainability officer collects the data needed for the sustainability reports of the Group and its individual companies.

The larger company entities already have sustainability officers. Positions are still being established for the smaller units and should be completed by the end of 2022.