Annual Report 2010/11 - Sonova

in critical moments. As a consequence, the profit warning
and the internal black-out period for trading in Sonova shares
and options were issued too late.
The Board of Directors has therefore appointed a task force
that will analyze in detail the shortcomings identified by Homburger
AG and promptly take the appropriate remedial measures.
Appropriate mechanisms and processes will ensure full
observance of all legal requirements, directives, and internal
documents.
In order to meet the requirements for increased transparency,
Sonova also decided to revise the section covering compensation
and shareholding and to report these in a separate
compensation report.
The present report describes the principles of Corporate Governance
for the Sonova Group and provides background
information on the Group’s executive officers and bodies effective
March 31, 2011. The report is based on the general
principles of Corporate Governance set down in the Articles
of As sociation and the Organizational regulations, which in
turn comply with the Directive on Information relating to Corporate
Governance published by the SIX Swiss Exchange.
GrOuP STruCTurE
OPErATIOnAL GrOuP STruCTurE
The Sonova Group is headquartered in Stäfa, Switzerland, and
is active in over 90 countries. Its 65 subsidiaries cover over
30 countries, and a network of independent distributors
serves the remaining markets. Sonova Holding AG is the parent
company of the Sonova Group and is listed on the SIX Swiss
Exchange.
OPErATIOnAL GrOuP STruCTurE
as of March 31, 2011
nomination and
Compensation
Committee
General Sharholders’ Meeting
Board of Directors
Management Board
Audit Committee
Internal Audit
STruCTurE Of THE MAnAGEMEnT BOArD
as of March 31, 2011
Interim
Chief financial
Officer (CfO)
Paul Thompson
GVP Corporate
Development
Paul Thompson
GVP Corporate
Human resources
Sarah Kreienbühl
LISTED COMPAnIES
Interim Chief Executive Officer (CEO)
Alexander Zschokke
GVP research
& Development
Dr. Hans Leysieffer
GVP Marketing
Maarten Barmentlo
GVP Operations
Hans Mehl
COrPOrATE GOVErnAnCE
GVP International
Sales
Ignacio Martinez
GVP Medical
Hansjürg Emch
GVP Channel
Solutions
Alexander Zschokke
Apart from Sonova Holding AG, no other company belonging
to the consolidated Sonova Group is listed on any stock
exchange.
Key data for the share of Sonova Holding AG as of
March 31, 2011:
2011 2010 2009
Market capitalization in
CHf m 5,444 8,658 4,557
in % of equity 405% 615% 444%
Share price in CHf 81.85 131.00 68.80
P/E ratio 23.4x 24.2x 16.0x
registered office 8712 Stäfa, Switzerland
Listed on SIX Swiss Exchange
Security no 1254978
ISIn CH0012549785
Ticker symbol SOOn
Par value CHf 0.05
nOn-LISTED COMPAnIES
The organizational chart showing the significant companies
of the Sonova Group as of March 31, 2011, can be
found in the Consolidated financial Statements in note 36.
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