Corporate Governance

Corporate Governance stands for responsible corporate management and control. The “Swiss Code of Best Practice for Corporate Governance” defines Corporate Governance as encompassing the full range of principles directed towards shareholders’ interest seeking a good balance between direction and control and transparency at the top, maintaining decision-making capability and efficiency.

Good Corporate Governance ensures transparent management aimed at sustainable achievement. It is designed to serve not only the company and its shareholders, but also external stakeholder groups. The overall framework of Corporate Governance is determined to a significant degree by the legislator and shareholders; the specific manner in which it is designed is the responsibility of the Board of Directors.

VP Bank Group strives to earn the trust of all stakeholder groups. It thus acts with integrity and responsibility and in a fair and trans­parent manner at all times, and grants its stakeholder groups insight into its decision-making and control processes. For years, it has thus published, of its own accord, information as to its strategic objectives as well as its ­relationships with its stakeholders. 

This report describes the basic principles underlying the corporate management of VP Bank Ltd, Vaduz1, as required by the revised “Directive on Information relating to Corporate Governance” (DCG) of the Swiss Stock Exchange, SIX Swiss Exchange, dated 20 June 2019, as well as the laws of Liechtenstein. 

The Ordinance against Excessive Remuneration in Listed Companies Limited by Shares (ERCO) has been in force in Switzerland since 1 January 2014. It is applicable to Swiss joint-stock companies whose shares are listed on a stock exchange in Switzerland or abroad, whereby VP Bank is not directly affected. In its Notification No. 2 / 2014 issued on 1 Sep­tember 2014 concerning the revision of the “Directive on ­Information Relating to Corporate Governance” (DCG), the Regulatory Board stipulated that, in principle, all com­panies listed on the SIX Swiss Exchange must disclose the same information concerning Corporate Governance. Consequently, the DCG contains, in part, special provisions for issuers that are not subject to the ERCO, but to which the Ordinance still applies in part. 

Unless otherwise indicated, all Corporate Governance ­disclosures herein are valid as at 31 December 2020.

  1. Hereinafter referred to as VP Bank.