Internal Control Instruments

The Board of Directors and Executive Board of Migros attach great importance to sound management. This includes the systematic internal control and monitoring of business processes, regulations and risks.

Risk management

The Board of Directors and the Executive Board review and assess the strategic, financial and operational risks of the Group. Risk management was further strengthened during the year under review. Migros has possessed an integrated, multi-tiered risk management approach since the end of 2008. The auditor of the FMC Migros Community is responsible for coordination. The risks are recorded and permanently controlled throughout the Group. The results of his checks are first presented to the heads of the strategic business segments and then, in consolidated form, to the Executive Board and the Board of Directors. Sixty employees underwent risk management training in 2008. The review process is now in regular operation.

Internal Audit

Responsibility for the management and administration of internal auditing lies with the Chairman of the Board of Directors. Audits are performed on the basis of an auditing plan approved by the Audit Committee. Internal Audit carried out 30 documented audits during the year under review, which will be discussed with management. The findings and key points were presented to the Audit Committee and the Board of Directors. Mitreva Interne Revision AG has been responsible for conducting Migros’ internal auditing since 2004.

Gottlieb and Adele Duttweiler Foundation

The autonomous Gottlieb and Adele Duttweiler Foundation was set up in 1950 by Gottlieb and Adele Duttweiler. The role of the Foundation is to ensure that the charter, covenants and ideas of the founder of Migros are adhered to. The ideas of Gottlieb Duttweiler therefore live on in the foundation that bears his name. His vision and commitment to sustainable development have shaped Migros. In his set of propositions, dating from 1950, he stipulated that the members of the Board of Directors and the managing directors of Migros enterprises should not be paid a share of any profits. They are to be remunerated exclusively by a fixed, reasonable salary. The observance of this stipulation is still, to this day, guaranteed in that the remuneration structure of the senior management and the Executive Board requires the approval of the Board of the Gottlieb and Adele Duttweiler Foundation. This tried-and-trusted procedure was established by covenants with the Cooperatives and the FMC as early as 1957. As long ago as the mid-20th century Gottlieb Duttweiler recognised the danger of excessive salaries and bonuses and laid down rules for remuneration accordingly.
The Foundation Board comprises the following seven independent members:
Jules Kyburz (Chairman), Claudius Alder, Peter Birrer, Hans-Ulrich Frei, Charlotte Hug-Burnod, Markus Mosele, Michel Renevey.