Service-oriented - Die Schweizerische Post

Financial risks
The financial risks faced by PostFinance,
namely the market and credit risks, are
managed via the standard tools and
methods used in the sector, and Swiss
Post is guided by the financial sector’s
“best practice” approach, which is applied
in a manner specific to the business.
The Board of irectors or the Audit Committee
determines the overriding principles
for dealing with financial risk, approves
the investment and risk policy of
Swiss Post, sets upper limits and monitors
risks. At Executive Management level, the
risk policy is defined and the risk and income
targets formulated. At PostFinance,
the professional handling of financial risks
guarantees, firstly, the safety of customer
deposits and, secondly, the long-term,
sustainable earning power of the Financial
Services business area and with it the
company as a whole.
Changes on the Board of Directors
In 2006, Rocco Cattaneo retired from the
Board of irectors. In June 2006 two new
members were elected: Nicola Thibaudeau
and Rolf Ritschard, who died suddenly
in January 2007.
Executive Management
Executive Management consists of the
CEO and other members appointed
by the Board of irectors. Alongside operational
management of the business, its
particular task is to draw up the Group
strategy and the finance and human
resources plans required for strategic
planning. It normally holds two meetings
each month, and the minutes of each
meeting are delivered to the Chairman of
the Board of irectors. The members of
Executive Management are responsible
for the operational management of the
organizational unit(s) assigned to them
and represent the related areas within
Executive Management. The CEO represents
Executive Management to the
Board of irectors.
Remuneration policy
Pursuant to the Ordinance on Managerial
Salaries in effect since 1 February 2004,
corporate risk, company size, industry
salaries and the rules for remunerating
the most senior federal managers must
be taken into account when determining
the remuneration due to the Executive
Committee. The Federal Council determines
the remuneration of members of
the Board of irectors, who in turn determine
the remuneration of the Executive
Management members.
Remuneration of members of corporate
bodies in office
Total remuneration, including fringe benefits,
for the ten members of the Board of
irectors (including the Chairman) came
to 977,917 francs in the year under review,
and that for the nine members of
Executive Management (including the
CEO) to 4,571,964 francs (basic salaries,
fringe benefits and performance components).
In 2006, fringe benefits totalling
286,470 francs are included in total remuneration
for the first time. Remuneration
of members of Executive Management
comprises a gross annual basic
salary, a performance component of between
0% and 40% of the gross annual
basic salary, a company vehicle, a firstclass
general rail pass, a monthly expense
account, premium payments for a risk
insurance policy as well as smaller benefits
enjoyed by all Swiss Post staff. The
performance component is based on the
Group results, the results of the business
area concerned, and the individual’s personal
contribution to performance and
is therefore variable. The performancebased
component paid out to members
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of Executive Management in 2007, which
is based on the 2006 target attainment,
amounts to 1,125,494 francs. The fee
of the Chairman of the Board of irectors
came to 200,000 francs in the year under
review and the fringe benefits amounted
to 50,000 francs. The Chief Executive
Officer’s basic salary amounted to
530,000 francs, the performance component
202,000 francs (basis 2006, paid
in 2007); other fringe benefits included
private use of a company car, payment of
premiums for a risk insurance policy and
a first-class general season rail card plus an
entertainment allowance of 30,000 francs
(fringe benefits total 55,830 francs).
Neither the members of the Board of
irectors and Executive Management nor
parties closely linked to such persons received
any additional fees, remuneration,
guarantees, advances, credits, loans or
benefits in kind in 2006. Both the basic
salary and the performance component
are insured for members of the Executive
Management: up to the maximum of
180,000 francs in the Swiss Post pension
fund (defined benefit plan); income in
excess of this amount is covered by a
management insurance scheme (defined
contribution plan). Contributions to the
pension fund are paid half each by the
employer and the employee. Employment
contracts are based on the provisions
of the Swiss Code of Obligations. No
agreements exist with members of either