Givaudan’s corporate governance system is aligned with international standards and practices to ensure proper checks and balances and to safeguard the effective functioning of the governing bodies of the Company.
This section has been prepared in accordance with the Swiss Code of Obligations, the Directive on Information Relating to Corporate Governance issued by the SIX Swiss Exchange and the ‘Swiss Code of Best Practice for Corporate Governance’ issued by economiesuisse and takes into consideration relevant international governance standards and practices.
The basis of the internal corporate governance framework is contained in Givaudan’s Articles of Incorporation. In order to further clarify the duties, powers and regulations of the governing bodies of the Company, the Company has adopted an organisational regulation.
Except when otherwise provided by law, the Articles of Incorporation and Givaudan’s Board regulations, all areas of management are fully delegated by the Board of Directors, with the power to sub-delegate to the Chief Executive Officer, the Executive Committee and its members. The organisational regulation of Givaudan also specifies the duties and the functioning of its three Board Committees.