3. Board of Directors

The BoD is responsible for strategy and organizational development and supervises and controls the operational management. It defines the Group’s business principles and keeps itself regularly informed about the company’s business performance. The BoD is authorized to make decisions on all matters that are not reserved for the Annual General Meeting or are conferred to another governing body of the company by law, the Articles of Association or other regulations.

The members of the BoD of Precious Woods contribute experience and expertise from a wide range of different fields and have both the skills and the time required, to ensure that they can critically and constructively engage with the GM and are able to form independent opinions. Members of the BoD are elected by the Annual General Meeting for a term of one year.

The BoD is a self-constituting body and appoints the Chairman, the Vice Chairman and the members of the committees from amongst its members for a term of one year.

At the Annual General Meeting on 22 May 2024 Markus Brütsch, Robert Hunink, Olivier Kobel, Bernhard Pauli and Werner Fleischmann were due for re-election. They were re-elected for a year on a proposal from BoD. Furthermore, Jürgen Blaser has resigned as a member of the BoD. The composition of the BoD is as follows on 31 December 2024: Markus Brütsch (Chairman), Robert Hunink (Vice Chairman), Werner Fleischmann (Member), Bernhard Pauli (Member) and Olivier Kobel (Member).

Members of the Board of Directors

The Precious Woods BoD has five members. The following statement about the members of the BoD and their activities at Precious Woods and cross-involvements represents the situation on 31 December 2024.

Committees of the Board of Directors

The whole Board of Directors monitors the concordance between budgets, finances and organization, examines the interim statements and the Annual Financial Report as well as the budget and oversees the relations with the external auditors. It is also the responsibility of the whole BoD to ensure the monitoring of the internal control system (IKS) and risk-management procedures as well as overseeing the processes for compliance with legal and regulatory requirements.

The Financial Committee, which covers the areas of finance and accounting, reporting and investor relations, consists of three members of the Board of Directors. It is chaired by Markus Brütsch. Werner Fleischmann and Olivier Kobel are the other members of the committee.

The Remuneration & Nomination Committee, which covers the areas of remuneration of the members of the Board of Directors and the Executive Board; personnel policy and strategy, consists of three members of the Board of Directors. Markus Brütsch is the Chairman. Robert Hunink and Bernhard Pauli are the other members of the committee.

The committees meet as often as necessary to fulfil their duties. Regular reports and proposals are submitted to the full Board of Directors. Markus Brütsch, Werner Fleischmann and Olivier Kobel renounced commission fees in 2024.

The BoD met a total of eight times during 2024. Each meeting lasted between two and eight hours. The BoD keeps itself informed of business matters by means of consolidated, periodic, operational and financial reports. All relevant documents are made available to the BoD on a regular and timely basis. Chairman and co-CEOs and CFO realized interim meetings.

Further information about the decision-making process as well as the areas of responsibility and control mechanisms can be found in the bylaws, which are published on Precious Woods’ website (Investor Relations – Corporate Governance).

Markus Brütsch

Swiss citizen, born in 1960
Chairman since 17 May 2023
BoD member since 2017, mandate ends in 2025

Other activities and interests:

CEO / CFO of Precious Woods Holding Ltd. from January 2014 until June 2023 (CEO) / September 2023 (CFO)
BoD member of Paul Reinhart AG
BoD member of Reinhart Holding AG