Principles
Cooperative governance is an important element of Migros' culture. The proper and diligent management of the cooperative is one of the core responsibilities of the Board of Directors and Executive Board. As decision makers, they are aware of their economic, social and environmental responsibilities to all stakeholders.
The Board of Directors and the Executive Board of Migros attach great importance to sound management. Those who make decisions and set policy are constantly striving to find the right balance between the conflicting priorities in the expectations of the cooperative members, employees, customers, consumers and business partners. To live up to this high ideal, Migros, as the number one in the Swiss retail sector, is oriented to the needs of its stakeholders. This involves open communication and the greatest possible transparency.
The principles of Migros' cooperative governance are set out in the charter, the organisational and business regulations and in the Code of Conduct. They are regularly verified for being up to date and adjusted where necessary.
Compliance
The Board of Directors decided to create the Compliance Officer role in the year under review. By taking this approach, Migros has committed itself to the comprehensive integrity, observance of all laws and internal and external regulations. Migros expects its employees to assume responsibility for their actions, respect people, society and the environment and report breaches.
Anti-corruption and antitrust law
In the area of anti-corruption and antitrust law, the necessary internal conduct directives exist within Migros. As a member of Global Compact, Migros is also expressly committed to fighting corruption in any form. Based on its stock-taking, the Board of Directors decided in the year under review to create a comprehensive compliance concept with processes for prevention, control and penalties. At the same time, the necessary interfaces to the systems of risk management and ICS will be created.