Among these fundamental strategic courses, several deserve a special mention: the firm commitment to maintaining jobs throughout this difficult time even in the event of a significant reduction in turnover, or still more significantly in the event of a substantial reduction in net profit. The Swatch Group Ltd, 2017Ĥ > 2 SWATCH GROUP / ANNUAL REPORT / 2016 > MESSAGE FROM THE CHAIR MESSAGE FROM THE CHAIR Dear Madam, Dear Sir, Dear Fellow Shareholders, Even more than in successful years, it is in the difficult ones that the two key principles guiding all our activities demonstrate their effectiveness: on the one hand, to remain true to the strategic courses we have steered throughout the existence of Swatch Group and on the other, to act according to a long-term perspective. Pages 1 to 149 are originally published in French and pages 150 to 230, as well as the Compensation Report, in German. HAYEK, 1993 ALEX (8) COVER: ANNA LYNN (5)ģ SWATCH GROUP / ANNUAL REPORT / 2016 > CONTENTS > 1 CONTENTS Message from the Chair Operational Organization Organization and Distribution in the World Organs of Swatch Group Board of Directors Executive Group Management Board Extended Group Management Board Development of Swatch Group Art & Philanthropy Big Brands Watches and Jewelry Retailing and Presence Production Electronic Systems Corporate, Belenos Swatch Group in the World Governance Environmental Policy Social Policy Corporate Governance Financial Statements 2016 Consolidated Financial Statements Financial Statements of The Swatch Group Ltd Compensation Report Swatch Group s Annual Report and Compensation Report are published in French, German and English. 2 SWATCH GROUP / ANNUAL REPORT / 2016 EMBRACE THE FANTASY AND IMAGINATION OF YOUR CHILDHOOD! > NICOLAS G.
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