The Board of Directors comprises eight members. All members are independent and two members represent our reference shareholder. Each member is elected individually. The term for members of the Board of Directors is one year. Except for the elections reserved to the Shareholders’ Meeting, the Board of Directors constitutes itself. It appoints from among its members the Vice Chairman of the Board of Directors and the members of the Board committees (except for the members of the Nomination and Remuneration Committee who are elected by the Shareholders’ Meeting).
Committees of the Board
There are currently three standing committees within the Board of Directors:
- The Audit Committee assesses the midyear and annual accounts and the activities of the internal and external auditors, the Internal Control System (ICS), and risk management.
- The Nomination and Remuneration Committee assesses the criteria for the election and reelection of Board members and nominations for the top two management levels. It also deals with succession planning, compensation systems, and compensation for the members of the Board of Directors and the Executive Committee.
- The Strategy and Sustainability Committee advises the Board of Directors on strategic matters (such as material acquisitions, divestitures, alliances, and joint ventures), as well as strategic planning, and definition of development priorities and Sulzer’s sustainability efforts.
Integrated sustainability governance
Sulzer embeds its sustainability activities in daily business and sets up suitable management frameworks, systems and processes. The Board of Directors is responsible for steering Sulzer’s sustainability efforts. The Board ensures that Sulzer’s solutions contribute to protecting the environment, that people and communities are safe, and that suitable management processes and systems are in place.
The Strategy and Sustainability Committee meets twice to three times a year and oversees how sustainability policies and programs support business goals and aspirations. The CEO takes part in all Committee meetings. Depending on the topic, the other members of the Executive Committee are also invited.
Global ESH network enabling sustainable behavior
Sulzer’s global ESH (Environment, Safety and Health) network drives the sustainability agenda. The group function ESH, together with the global ESH Competence Center, is responsible for corporate ESH programs, projects, risk prevention communications and the development of global ESH standards (directives, guidelines and good practices).
The ESH network is supported by a team of roughly 110 ESH specialists across the organization who support management to improve the safety and environmental performance continuously.
In addition, all production and service site are certified against ISO 9001, ISO 14001 and ISO 45001 /OHSAS 18001.