Committees

Human Resources and Remuneration Committee

The Human Resources and Remuneration Committee is responsible for ensuring that the Executive Board has the best possible members, which it does by assessing the selection of applicants and making a recommendation to the Board of Directors, which takes the decision. The Committee also supports the Board of Directors in selecting members of the boards of directors of FMC subsidiary companies and members of the foundation councils of the Migros Community and for setting the appropriate remuneration for these executive bodies, the Executive Board and the Board of Directors. Where there is a conflict of interest, the members concerned do not participate. The Committee met twice in 2011.

In accordance with a decision of the Board of Directors, independent members only will be appointed to the committee from the 2012 to 2016 term of office.

Claude Hauser (Chairman)

Doris Aebi, Herbert Bolliger, Jean-René Germanier, Ernst Weber
italics: internal (executive) members (as of 1.7.2012 external [independent] members only)

Audit Committee

The Audit Committee supports the Board of Directors in supervising the work of the auditors by liaising directly with external and internal auditors. In performing its duties, the Audit Committee has unrestricted access to the management of all group companies and their business records and documents. The Audit Committee operates in accordance with the rules of Best Practice, which are observed by large Swiss business enterprises. The Committee reports regularly to the Board of Directors about the results of its audits and proposes appropriate measures when necessary. The Audit Committee met five times in 2011.

Andrea Broggini (Chairman)

Roger Baillod, Paola Ghillani, Salomé Paravicini
(external [independent] members only)

Finance Committee

The Finance Committee examines major investment projects and proposals for the acquisition and sale of businesses or business units of the FMC and its subsidiaries. It bases its deliberations on financial planning and the particular terms of reference, and on their strategic conformity, and ensures that the relevant financial resources are properly utilised. The Finance Committee met five times in 2011.

Heinz Winzeler (Chairman)

Lorenzo Emma, Thomas Rudolph, Ursula Schoepfer
italics: internal (executive) members

Retail Committee

The Retail Committee deals with all matters that are relevant for retailing under the Migros brand – the orange M – including, in particular, its merchandising and retail strategies, and applications relating to these to the Board of Directors. The Committee formulates binding procedural plans, priorities and actions for the implementation of the budget. It is also responsible for supervising and controlling budgets, and introduces appropriate measures when there are deviations from these. The 17 members of the Committee met on seven occasions in 2011.

Herbert Bolliger (Chairman)

Max Alter, Christian Biland, Lorenzo Emma, Oswald Kessler, Werner Krättli, Marc Schaefer, Guy Vibourel, Ernst Weber, Beat Zahnd, Fabrice Zumbrunnen, six members of the Executive Board
italics: internal (executive) members