The Executive Board is responsible for the operating management of Swiss Prime Site and represents the Group publicly. The Executive Board corresponds to the «executive management» according to the Articles of Association of Swiss Prime Site AG and Swiss Ordinance Against Excessive Compensation in Listed Companies (Ordinance).
Members of the Executive Board generally attend the Board of Directors meetings in an advisory capacity. They leave the meeting if the Chairman so directs.
Additions to the Executive Board during the reporting period
Articles of Association provisions regarding the number of permitted activities
Members of the Executive Board may simultaneously carry out no more than five additional mandates outside the Group in the supreme managing or supervising body of legal entities that are required to be entered in the commercial register or an equivalent foreign register, of which no more than one in a listed entity.
Several mandates within the same group of companies and mandates carried out as part of the member’s position on the Board of Directors or the executive management or a supreme managing or supervisory body (including in pension funds, joint ventures and legal entities, in which the company has a substantial investment) are counted as one mandate. Activities in non-profit-oriented associations, organisations and foundations are not subject to any restrictions.
There are no management contracts.
Compensation, shareholdings and loans
All of the following information is contained and explained in the Compensation Report on pages 75 to 92: Articles of Association provisions regarding the basic principles governing profit-based compensation and the allocation of shareholdings, as well as additional amount for those members of the Executive Board who are designated as such following the vote by the Annual General Meeting on compensation; Articles of Association provisions regarding loans, credit and pension benefits to members of the Board of Directors and Executive Board; Articles of Association provisions regarding the vote by the Annual General Meeting on compensation.
Shareholdings in Swiss Prime Site AG held by members of the Board of Directors and Executive Board are reported in the Company’s notes to the financial statements of Swiss Prime Site AG on page 89.