As Chairwoman of the Nomination and Compensation Committee, one of my main tasks is to work with my colleagues on expanding the key competencies found on the Board of Directors, our Executive Board and among our employees. We already have a strong expertise in real estate, finance and technology, and we need to build on these strengths in the short and medium term. Another key objective is to achieve a more diverse mix on the Board of Directors and the related committees, with even greater significance being attributed to expertise, experience, age and gender in the future. With the nomination of Gabrielle Nater-Bass, there will hopefully be two women on the Board of Directors after the forthcoming Annual General Meeting. This will fulfil the Swiss federal government’s quota, which recommends 30% of a board of directors to be female. However, we are not just improving the diversity within the Board but also significantly strengthening its knowledge base with her extensive legal knowledge. Technological advances have resulted in significant changes in the market. It will be vital for us to be able to reliably analyse, assess and measure these changes, now and in the longer term.
The compensation system introduced in 2017 was enthusiastically received by our shareholders and proxy advisors. When drawing up this system, we looked very closely at the changing demands of all stakeholders, and focused on transparency and performance criteria. We will therefore continue to hold firm to the compensation system. Direct discussions with our stakeholders, initiated as part of our modernisation process, will also continue. Our unceasing aim is to have a leadership and compensation model befitting a modern company.
In 2019, we will also update the strategic core processes for the Board of Directors, committees and the Swiss Prime Site Group. My ambition is to use these boards and committees to leverage the existing knowledge and expertise within the company, enabling it to permeate through the structure and the group companies, thereby contributing to their commercial success. This will make us more resilient, able to shape our future with even greater agility and vigour.