Corporate governance 2012

Corporate governance is the manner in which an enterprise is managed and controlled. VP Bank strives to conduct exemplary corporate governance in a way that clearly defines and appropriately allocates the roles, competencies and areas of responsibility of the company’s leadership and supervisory bodies. This applies in particular to the operative management as well as to the Board of Directors and its committees. It is also the objective of good corporate governance to avoid conflicts of interest between the individual stakeholder groups. That requires a high degree of transparency, because even the best internal structures cannot foster trust unless they are communicated to the outside world. It is VP Bank Group’s desire to offer its stakeholders insight into its decision-making and control processes. Thus for years now, it has voluntarily disclosed information on the Group’s strategic orientation and its relationships with those stakeholders.

This report describes the basic principles underlying the corporate governance of Verwaltungs- und Privat-Bank Aktiengesellschaft, Vaduz, as required by the revised “Directive on Information Relating to Corporate Governance” (DCG) of SIX Swiss Exchange dated 29 October 2008, as well as the relevant laws of Liechtenstein.

The regulations of SIX Swiss Exchange stipulate that companies whose shares are listed on the Exchange but not in their own home countries must apply the provisions of Art. 663bbis CO analogously. The relevant details are shown in Section 5.2 as well as in the notes to the annual financial statements. 

Unless otherwise indicated, all corporate governance disclosures herein are valid as at 31 December 2012.