The Board of Directors of Compagnie Financière Richemont SA (the ‘Board’) is responsible for the overall strategic direction of the Group and the appointment of senior management. In addition, it is responsible for establishing financial controls and appropriate procedures for the management of risk within the Group as well as the overall supervision of the business.

The Board oversees the company’s management in terms of its social, economic and environmental performance. The Director of Corporate Affairs attends all Board and Audit Committee meetings. Both the Board and its Audit Committee regularly receive risk reports relating to economic, environmental, employee retention and other CSR issues as part of a regular review process.

There is also an Enterprise Risk Management process across all Group functions. The process considers both strategic and operational risks across a wide range of issues, including environmental and employment-related risks. All identified risks are quantified according to their probability of occurrence and potential impact, and are subsequently prioritised by management. A consolidated risk report, which includes action plans prepared by the Group executive directly responsible for addressing the risk, is reviewed annually by the Group’s Audit Committee.

A detailed corporate governance report is included in the Annual Report on pages 38 to 52 in accordance with the regulatory requirements for public companies in Switzerland. For reporting in detail on CSR topics, this website report is a more flexible and efficient way of communicating Richemont’s progress each year.