Accountability and transparency for all stakeholders

Corporate governance forms a key element of Schaffner’s corporate strategy.

Transparency and well-defined responsibilities are the underpinnings of Schaffner’s corporate governance policy: Transparency in financial reporting and clearly assigned duties and accountabilities in the interactions between shareholders, the Board of Directors and Executive Committee.

As a company listed on the SIX Swiss Exchange, Schaffner fulfils the requirements of the Directive on Information Relating to Corporate Governance issued by the SIX Swiss Exchange and of section 663b bis and 663c (3) of the Swiss Code of Obligations. Schaffner also follows the applicable standards of the Swiss Code of Best Practice for Corporate Governance, including its Appendix 1 (recommendations for the compensation of boards of directors and executive committees).

All relevant corporate governance documents are available on the home page of the Schaffner Group’s website under “Corporate Governance”: www.schaffner.com/en/investor-relations/ corporate-governance.html

In addition, Schaffner’s general principles of corporate governance are described in the Organizational Regulations of Schaffner Holding AG and in the Articles of Association, which can be viewed at or requested from the Company’s head office.

As an active participant in the UN Global Compact, the Schaffner Group is committed in its strategy and activities to honoring the ten principles of the UN Global Compact regarding human rights, labor, the environment and anti-corruption. Schaffner expects its employees to be accountable for their actions, to respect people, society and the environment, to follow applicable rules and act with integrity. The Group’s current relevant report (Communication on Progress) is available at www.unglobalcompact.org/participant/10379-Schaffner-Holding-AG.

The Schaffner Group has also adopted the Electronic Industry Code of Conduct (EICC) and is committed to introducing it in all Schaffner companies. This involves ensuring that working conditions in the whole Schaffner supply chain are safe, that employees are treated with respect and dignity, and that manufacturing operations are environmentally sound.
www.eicc.info/EICC_CODE.shtml

On 12 January 2012 the 16^th Annual General Meeting of Schaffner Holding AG elected two new members to the Board of Directors for a term of two years (until 2014): Suzanne Thoma, member of the Executive Committee of BKW AG and its designated Chief Executive Officer; and Georg Wechsler, Chief Financial Officer and member of the Executive Committee of Model Holding AG. Hans Hess, Vice Chairman of the Board of Directors and Board member since 2006, will retire from the Board of Schaffner Holding AG for professional reasons upon the expiry of his term of office at the 17^th Annual General Meeting on 14 January 2013. Markus Zenhäusern, a member of the Board of Directors since 2008 (elected until 2015), passed away on 1 July 2012. On 25 September 2012, Gerhard Pegam was nominated for election to the Board of Directors at the 17^th Annual General Meeting on 14 January 2013.