The Swiss Code of Best Practice for Corporate Governance is now available in English, French and German on the internet site of economiesuisse (Code). The publication also includes the Guidelines of the Swiss Stock Exchange on corporate governance disclosure.
Formally adopted by the committee of economiesuisse on 25 March 2002, it is the first code of best practice on this subject to be published in Switzerland. Ethos was represented in the group of experts on corporate governance that drafted the document.
The code contains a series of recommendations for listed companies constituting basic practices leading to an improvement of corporate governance in Switzerland. The recommendations concern shareholder rights, the composition and duties of the Board of Directors and Executive Management, the role of the auditor and general provisions on communication and disclosure. Ethos welcomes this step forward in corporate governance, which can be considered as the beginning of an evolving process.
Ethos also welcomes the Guidelines of the Swiss Stock Exchange, which definitely leads to greater the transparency of Swiss companies towards their shareholders and the public. Its implementation (mandatory in the 2002 Annual Reports) will supplement company information on subjects such as remuneration, the auditor, or the composition and organisation of the Board of Directors.
