Sulzer Ltd is subject to the laws of Switzerland, in particular, Swiss corporation and stock exchange law. The company also applies the Swiss Code of Best Practice for Corporate Governance. The rigorous application of sound corporate governance helps to consolidate and strengthen trust in the company. A single share class and the separation of the functions of Chairman of the Board of Directors and CEO have been standard practice at Sulzer for many years. Since the Annual General Meeting on April 8, 2009, the Board of Directors has been made up exclusively of individuals who have never held executive positions at Sulzer.
Unless otherwise indicated, the following information refers to the situation as of December 31, 2012. Further, continually updated information on corporate governance is published in this section. The information in the following section is set out in the order defined by the SIX Swiss Exchange guidelines on corporate governance information (RLCG), with subsections summarized as far as possible. Sulzer’s consolidated financial statements comply with International Financial Reporting Standards (IFRS), and in certain sections, readers are referred to the financial section in the Sulzer Annual Report 2012. Information regarding the compensation of the Board of Directors and the Executive Committee can be found in the compensation report.