Swiss company law does not address the transparency of management and board of directors' remuneration. For companies listed on the SWX Swiss Exchange, the SWX Directive on Information Relating to Corporate Governance (the SWX Directive) requires that management and board of directors' remuneration be disclosed. However, the SWX Directive only requires the total amount of compensation paid to the board of directors and the management board to be indicated. The Swiss Code of Best Practice for Corporate Governance also addresses the disclosure of corporate governance issues. However, the Swiss Code does not provide binding corporate governance standards. It just aims to give recommendations for listed companies.
March 01 2006