Corporate and Governance
Governance, ethics and compliance
GRI disclosures 2–9, 2–12
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 2022
GRI disclosures 2–9, 2–12, 2–13, 2–14 , 2–16
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 | |
|---|---|
|
Executive Group Management Board members |
|
| GROUP | OPERATING ENTITIES |
| Sustainability Team | Sustainability officers |
| CORPORATE FUNCTIONS | |
| Sustainability officers | |
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.
Examples for sustainable governance
Sustainability coordinators at Omega
This year, Omega created a network of more than 30 sustainability coordinators as a way of embedding sustainability principles at the heart of its corporate culture. The coordinators are supported by a sustainability manager and are responsible for ensuring that all departments apply ESG guidelines and best practices. The sustainability coordinators are also involved on site, developing action plans for the different ESG areas and collecting ideas from employees for optimizing processes.
They raise employees’ awareness of sustainability issues that apply to Omega’s area of activity and undertake continuing professional development on these topics. They have so far made a valuable contribution to waste management and energy strategy.
Statement on the Modern Slavery Act
Download the Swatch Group's statement on its efforts against slavery and human trafficking, made in compliance with section 54 of the UK Modern Slavery Act 2015.