Corporate and Governance

Governance, ethics and compliance

GRI disclosures 2–9, 2–12

Governance structure

Effective and transparent governance is central to the success of the company. 

Swatch Group implements lean and efficient governance structures at all levels. While the Board of Directors is responsible for executive management, the Executive Group Management Board is responsible for operational management tasks, in which it is supported by the Extended Executive Group Management Board. The Board of Directors is made up of six members and has an Audit Committee  and a Compensation Committee.

↗ For further information on the governance structure, please see the Corporate Governance Report in the Swatch Group Annual Report 2023

GRI disclosures 2–9, 2–12, 2–13, 2–14 , 2–16

Sustainability governance

The Executive Group Management Board is responsible for ensuring compliance with the Group’s high standards in the area of sustainability. It embeds the approach to corporate responsibility in the corporate strategy and defines specific targets and measures. Implementation is coordinated and managed by the Sustainability Steering Committee, which consists of representatives from the Executive Group Management Board. The Group’s approach to corporate responsibility is approved by the Board of Directors, which has the ultimate responsibility.

Corporate sustainability structure

Sustainability Steering Committee

The Sustainability Steering Committee is responsible for Swatch Group’s strategy and performance in the area of sustainability. The members are in constant contact with the Sustainability Team and usually meet every two months.

In the year under review, three of the eight Executive Group Management Board members were on the Sustainability Steering Committee. The members of the Sustainability  Steering Committee report directly to the Executive Group Management Board at the Board’s monthly meetings. The CEO raises the issues that are important for the Board of Directors with the committee members. The Chair of the Board of Directors approves the sustainability report.

Sustainability Team

The Sustainability Team is responsible for the implementation of the company’s sustainability strategy and policy.

The team supports the brands, production sites, in-country organizations and central functions in their projects and initiatives and serves as a communication platform for the individual Group companies. The Sustainability Team consolidates the sustainability data of the operating entities and Group functions and prepares the Group’s sustainability report. It answers questions from internal and external stakeholders.

Sustainability officers at the subsidiaries

The sustainability officer ensures the advancement of the sustainability strategy for their brand, company or company entity, and defines and implements a specific roadmap.
The sustainability officer collects the data needed for the sustainability reports of the Group and its individual companies.

The larger company entities have had sustainability officers for  a while. The corporate sustainability structure has grown further over the past two years, and all companies now have their own sustainability officer. An interdisciplinary team supports them in a number of brand, production and distribution companies. In addition, the Executive Group Management Board issued a new internal sustainability directive in 2022. It includes stipulations on ensuring that any decisions taken by Group company management boards are checked for their positive and negative ESG impacts.The sustainability officers for the various units are in close contact with each other and exchange information on best practices and different projects across the Group. These passionate experts ensure the Group’s sustainability policy is applied in practice.

Central functions - Energy Management

The Energy Management Team’s ultimate goal is to achieve climate neutrality for Scope 1 emissions at all Swatch Group locations by 2050. Optimizing energy use and using renewable energy sources for generating heat are its primary focus. The Energy Management Team supports the Swatch Group sites in developing and implementing measures to optimize energy consumption.

Statement on the Modern Slavery Act

Download the Swatch Group's statement on its efforts against slavery and human trafficking, made in compliance with section 54 of the UK Modern Slavery Act 2015.