Swiss company law establishes the General Shareholders' Meeting, the Board of Directors as well as the statutory auditor [Revisionsstelle] the group auditor as governing bodies and determines that the General Shareholders' Meeting is formally the highest body in the stock corporation. The General Shareholders' Meeting makes the fundamental decisions.

The non-delegable authority granted to the General Shareholders' Meeting includes the power to determine and amend the Articles of Association ("Articles" [Statuten]) as well as elect the Board of Directors and the statutory auditor/group auditor.

The Board of Directors is the executive body, whereby it can delegate management functions except for those responsibilities which are signed to the Board of Directors by law and cannot be delegated.

The statutory auditor examines the accounts and the annual financial statements with regard to their compliance with the law and the Articles; if consolidated financial statements are to be prepared, its compliance with the applicable rules on consolidation is examined by the group auditor. In accordance with the principal of separation of powers, the law allocates, therefore, independent roles to each governing body.

The members of the Company's Board of Directors and their current activities as well as their current positions on administrative, management or supervisory boards or as partners in enterprises outside the SAF Group are listed in the following table:

Dr. Andreas von Beringe (President)
Member since: 1999
Appointed until: 2009
Activities/mandates outside SAF:

• none

Detailed CV

Michael Arndt
Member since: 1996 (non-executive member)
Appointed until: 2009

Outside of his position at SAF, Michael Arndt exercises the following activities/offices:

• Executive of Provida Consulting AG, Frauenfeld, Switzerland
• Member of the Board of Directors of Genossenschaft Alters- und Pflegeheim, Region Sulgen und Umgebung ( old age and nursing home cooperative in the region of Sulgen and environs ), Sulgen, Switzerland
• Member of the Board of Directors of PSL Beratungs- und Dienstleistungs AG, Frauenfeld, Switzerland 
• Member of the Board of Directors of Bestpractice AG, Frauenfeld, Switzerland
• Member of the Board of Directors of Alme Holding AG, Aadorf, Switzerland as well as of Alme AG, Aadorf , Switzerland
• Member of the Board of Directors of VVA Media International AG, Zurich, Switzerland 
• Member of the Board of Directors of Laura Chavin Cigars AG, Frauenfeld, Switzerland
• Member of the Board of Directors of GEOBP Invest AG, Frauenfeld, Switzerland
• Member of the Board of Directors of SSE Success Software Engineering AG, Frauenfeld, Switzerland 
• Member of the Executive Management of Epple Druckfabrik GmbH, Hettlingen, Switzerland
• Member of Board of Directors of JAPIRA AG, Frauenfeld, Switzerland (since April 24, 2008)
• Somm AG Fleisch & Comestibles Schrofen, Kreuzlingen, Switzerland (since June 19, 2008)

Detailed CV

Stephan Lindow
Member since: 2006 (non-executive member)
Appointed until: 2009

Outside of his position at SAF, Michael Arndt exercises the following activities/offices:

• Recovery Manager of CMP Recovery Management GmbH, Berlin

Detailed CV

More information about duties and functions of the board of directors.