Annual Report 2002

3. Board of Directors
The Board of Directors bears responsibility for determining
the medium- and long-term strategic orientation of the VP
Bank Group. It is responsible for the overall management,
supervision and control of the company. Liechtenstein law
prescribes a clear separation between the functions performed
by a company’s board of directors (i.e. overall
management, supervision and control) and the operational
functions performed by management. Accordingly, the
Board of Directors of VP Bank consists solely of nonexecutive
members (i.e. individuals are not actively
involved in managing the day-to-day business dealings
of the company).
3.1 Members of the Board of Directors
The Board of Directors of VP Bank comprises seven
members, none of which during the past three financial
years was a member of the management of VP Bank or
any Group subsidiary company. No significant business
connections exist that could impair the decision-making
independence of the individual Board members or that
of the company or its governing bodies.
The following summary provides details on the name,
age, function, date of appointment and remaining term
of office of each member of the Board of Directors:
Name Born Function Appointed to Board in Term of office until AGM in
Hans Brunhart 1945 Chairman 1, 2 1994 2003
Dr. iur. Guido Meier 1948 Vice-Chairman 1 1989 2004
lic. oec. Markus Thomas Hilti 1951 Member 1 1992 2004
Dr. iur. Matthias Donhauser 1958 Member 1996 2005
Roland Feger 1956 Member 2 2001 2004
Walo Frischknecht 1946 Member 2 2002 2005
Prof. Dr. Beat Bernet 1954 Member 2002 2005
1 Member of the Committee of the Board of Directors
2 Member of the Audit Committee
annual report 2002 | vp bank | page 33