Board of Directors

The Board of Directors is Sika’s highest level of management and mainly responsible for the:

• corporate mission statement and corporate policies,
• decisions on corporate strategy and organizational structure,
• appointment and recall of members of Group Management,
• development of finance and accounting,
• establishment of the three-year plan as well as the annual and investment budgets.

The members of the Board of Directors are elected by the Annual General Meeting for a term of office of three years. Their tenures are staggered. They can be reelected at any time. Upon reaching the age of seventy, directors resign their commission. No directorships are maintained with other listed companies on a reciprocating basis. The Board of Directors constitutes itself, electing the Chairman and Vice Chairman from its ranks.

The Board of Directors of Sika AG presently consists of nine non-executive members. As business demands, the Board convenes at the Chairman’s behest. The President of Group Management, the CEO, participates in the Board meetings in an advisory capacity. The other members of Group Management take part as necessary, but at least three times per year, also as advisors. Company officers report regularly and comprehensively to the Chairman concerning implementation of Board decisions.

The CEO as well as the CFO report to the Board in writing on the development of business at least once per month. Extraordinary occurrences are reported immediately to the Chairman or the Audit Committee, insofar as such events relate to the latter’s area of responsibility. The auditing staff report to the Chairman as well as the Audit Committee within the scope of the review schedule.