Service-oriented - Die Schweizerische Post

74 Annual Geschäftsbericht Report | Corporate 2006 Governance
Corporate Governance
Effective
management
and controls
Although the corporate governance
guidelines of Swiss Exchange SWX
apply only to listed public companies,
Swiss Post acts in line with them as
the demands made on good corporate
governance are also important
for institutions governed by public
law.
As an independent Federal institution,
Swiss Post has a mandate from the legislators
for the countrywide, universal provision
of postal and payment services.
This mandate involves widely differing
needs of customers, employees and the
public, which are also reflected in their
expectations with regard to transparency.
Although Swiss Post is not a public company
listed on the stock exchange, its
reporting follows the Swiss Exchange’s
corporate governance guidelines. However,
we take postal-specific differences
into account that arise as a result of our
legal status and our being owned by the
Confederation. In the year under review,
Swiss Post launched a project in which it
examined its current structure in terms of
appropriateness and completeness. The
aim was to close any gaps and clarify
which regulations of the parent company
should apply in future to the subsidiaries
as well. A new internal controlling system
was also implemented.
Legal status and ownership
Swiss Post is an autonomous institution
under public law with its own legal identity.
The Confederation is the sole owner.
Both Swiss Post’s mandate and the responsibilities
of the management bodies
are governed by the Postal Act and the
Postal Organization Act. As market deregulation
in the postal sector continues,
the Confederation has to act as a regula-
tor as well as the owner. To ensure that
the owner’s interests can be kept separate
from the regulatory tasks, the regulatory
authority acts independently and is assigned
to the Swiss Federal epartment
of Environment, Transport, Energy and
Communications (UVEK) for administrative
purposes only.
Government control
The Federal Council sets out strategic
objectives for Swiss Post for four years at
a time. These currently cover the period
from 2006 to 2009. The Annual Report
(including the balance sheet and notes,
income statement, auditors’ report and
consolidated financial statements with
Group auditors’ report) in particular
is submitted for approval and to help the
Confederation with its management and
supervisory tasks. The Federal Council
also receives an annual report on progress