The articles of association are the basic legal document of the company and therefore have to be submitted for approval to the shareholders' meeting.

The Sonova Holding AG Organizational Regulations (‘OrgR’) aim to establish a framework that enables the addressed bodies to conduct Sonova’s business successfully by

- creating a corporate environment of customer focus, cooperative spirit and mutual trust,

- securing clarity regarding to duties and authorities, and

- transforming the requirement of law and good corporate governance into practice

The OrgR should be construed in a way that the mission to lead and develop a successful company gets top priority.

The duties and responsibilities of the Board committees are defined in the Committee Charters of the Board of Directors of Sonova Holding AG. The committees regularly report to the Board of Directors on their activities and findings. Overall responsibility for matters delegated to the committees remains with the Board of Directors.

Audit Committee

Members: Adrian Widmer (Chair), Gregory Behar, Laura Stoltenberg and Julie Tay. 

Within its remit, the Audit Committee supports the Board of Directors in overseeing the effectiveness of the external and internal audit functions. It reviews the Group’s financial reporting, internal control systems, financial structure, and risk management framework, and reviews the interim and annual financial statements of the Group.

The Audit Committee also oversees the activities of the internal audit function and reviews the results of internal audits (see Committee Charters). The Committee meets at least four times per year, or more frequently if required. 

Nomination and Compensation Committee

Members: Roland Diggelmann (Chair), Gregory Behar, Malina Man Lin Ngai and Julie Tay.

The Committee supports the Board of Directors in matters relating to the compensation of the members of the Board of Directors and the Group Executives. It reviews and proposes the compensation framework and compensation amounts for approval by the Board of Directors.

The Committee also identifies and proposes suitable candidates for election to the Board of Directors and, upon recommendation by the CEO, for appointment as a Group Executive member. Relevant proposals and recommendations are submitted to the Board of Directors for decision (see Committee Charters).

The Committee meets at least three times per year, or more frequently if required.

Technology and Innovation Committee

Members: Hooi Ling Tan (Chair), Ingrid Cotoros, Malina Man Lin Ngai and Laura Stoltenberg.

The Committee supports the Board of Directors in overseeing the company’s technology and innovation strategy, taking into account technological developments and evolving customer needs.

The Committee conducts an annual self-assessment and reviews the adequacy of its Charter on a yearly basis. It meets at least twice per financial year. Sonova’s CEO attends the meetings as a standing guest. External advisors or experts may be invited at the discretion of the Committee Chair.

Our shared core values and beliefs reflect the corporate culture that defines and unites us as a company across all brands and regions. Ethical behavior and unquestionable integrity form the core of our corporate culture. Our reputation for ethical behavior and integrity is one of our most valuable company assets. It is the result of our daily actions and as such it is an integral part of our endeavor to create sustainable success and value. Each one of us is personally responsible and accountable for helping the Sonova Group maintain its reputation for the highest ethical behavior and unquestionable integrity. The Code of Conduct is binding for and applies to all employees within the Sonova Group, its subsidiaries and any contractors or vendors performing work for the Sonova Group or any of its subsidiaries.

Please go to our external SpeakUp platform to report a complaint directly, or to find the phone numbers if you want to speak with one of the (external) agents directly.

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At Sonova Holding AG and its affiliates (“Sonova”), we have set high standards for the way we conduct business in areas from social and corporate responsibility to sound business ethics, including compliance with all applicable laws and regulations. Sonova Group employees are bound to the Sonova Group Code of Conduct. They behave according to accepted ethical principles when interacting with colleagues, customers, suppliers, business partners and shareholders.

In turn, we expect the same commitment from our suppliers. The objective of the Sonova Supplier Code of Conduct (“SCoC”) is to define the standards of governance and practice that must be adhered to by all suppliers conducting business with Sonova. Translated versions of the SCoC are available under the Supplier relations tab of the Governance information page.

Sonova is committed to tax compliance and operates its bespoke international flow of goods in line with all applicable tax regulations.

As laid down in Sonova’s Code of Conduct, Sonova strives to the highest standards in complying with laws, rules, regulations, reporting and disclosures requirements. This also applies for tax matters. The tax principles provide high level information on procedures and internal guidelines for tax compliance within the Sonova Group, meaning for all legal entities that are majority-owned or otherwise controlled directly or indirectly by Sonova Holding AG.

At Sonova, we strongly believe that the way we lead and collaborate with our employees, customers and other stakeholders is a key business differentiator. To leverage the strengths and to tap the full potential of our employee talent base will be key to meeting our business goals in the long term. The Sonova Leadership Principles reflect and build on our shared, group-wide leadership understanding and form the basis for excellent leadership. By implementing and living up to the Sonova Leadership Principles we reach our objectives and realize our vision in a sustainable way.

Sonova is all about people: we strive to be a strong team working together, with and for our customers, to succeed in the market. This is why we need to be able to attract and retain skilled, dedicated, and ambitious colleagues to continuously improve and grow the company for all our stakeholders.

For detailed information please refer to the Compensation Report. The Compensation Report is part of the Annual Report and describes the compensation system in place at Sonova, including its key elements and general principles, the bodies responsible for the design, the approval framework, and the implementation in detail. The report also provides detailed information on the compensation paid to the Board of Directors and the Management Board.