Organization of GF
Georg Fischer Ltd, the Holding Company of the GF Corporation, is organized under Swiss law. It is headquartered in Schaffhausen (Switzerland), and listed on the SIX Swiss Exchange.
Board of Directors
The seven to nine members of the Board of Directors are elected individually by the Annual Shareholders’ Meeting. The Board of Directors has ultimate responsibility for supervising and monitoring the management of Georg Fischer Ltd. It decides on the company strategy and organizational structure, the organization of finance and accounting, the annual budget and the investment budget. Also it appoints the members of the Executive Committee, to which it transfers the operational management of the Corporation. All members of the Board of Directors are non-executive, eight are also considered independent based on the Swiss Code of Best Practice for Corporate Governance of Economiesuisse.
The Chief Executive Officer (CEO) is responsible for the management of the Corporation. Under his leadership, the Executive Committee addresses all issues of relevance to the Corporation, takes decisions within its remit, and submits proposals to the Board of Directors.
GF Corporation is organized in the three divisions GF Piping Systems, GF Casting Solutions, GF Machining Solutions, and the two Corporate Staff Units Finance & Controlling and Corporate Development. The Presidents of the divisions and the Corporate Staff Units are responsible for managing their businesses and for achieving their business objectives.
The CEO and the CFO form the management of the Corporate Center, which is closely involved in management, planning, IT, communications, finance, management development and corporate culture. The Corporate Center ensures also that risk management, transparency, governance, sustainability, and compliance practices meet the requirements of the owners and the public, and it supports the Board of Directors in meeting its responsibilities.
Corporate Finance & Controlling uses state-of-the-art information systems to ensure the time-critical financial management of the Corporation. A standardized system of financial reporting is used throughout the entire Corporation, guaranteeing immediate and complete transparency. Currency, interest rate, and credit risks are monitored and managed at Corporation level.
Strategically important competencies and information are shared and made available throughout the Corporation. Considerable importance is attached to internal training, talent management and to putting the best possible people in management positions. Up to 70% of all senior management positions are filled with internal candidates.
The Corporation has a strong brand with GF, which has been built up and strengthened consistently over many years. The Corporation builds confidence in its products and services with an open and active communication policy to customers, employees, media, analysts, shareholders, and other stakeholders.
The sustainable development of the Corporation is supported by shared corporate values. They are put down in writing in the Code of Conduct and are becoming increasingly important with the spread of globalization.
For detailed information on Corporate Governance see the same named chapter.
GF organization structure
As of 31 December 2019