As the sole shareholder of Swiss Post, the Confederation approved all proposals made by the Board of Directors at yesterday’s General Meeting. This included a dividend distribution of 50 million francs (dividend for 2018: 200 million francs). The General Meeting approved the 2019 consolidated and annual financial statements, with operating income of 7,164 million francs and Group profit of 255 million francs. The General Meeting also re-elected Ernst & Young Ltd as statutory auditors for the 2020 financial year. The Confederation acknowledged that the upper limits for Board of Directors fees and Executive Management salaries were respected in 2019 and approved upper limits for these for the 2021 financial year.
As proposed, the General Meeting granted the Members of the Board of Directors full discharge for the 2019 financial year. The restricted discharges for the 2018 and 2017 financial years will remain in place. This is due to the still pending administrative criminal proceedings relating to the irregular reclassifications at PostBus, which are currently being conducted by the Federal Office of Police (fedpol). From the perspective of Swiss Post, the PostBus incidents were concluded in financial terms. Swiss Post reserves the right to consider civil claims for liability once the administrative criminal proceedings have concluded.
The Members of the Board of Directors were reappointed for two years at last year’s General Meeting, meaning that no re-election process was held this year. The by-election for board member and human resources representative Michel Gobet, who passed away on 13 February 2020, will be held at an Extraordinary General Meeting.
Source: Swiss Post