Logitech 2014 Annual Report Download - page 296

LOGITECH INTERNATIONAL S.A.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(5) Mr. Didier Hirsch was first elected as a director at the Annual General Meeting in September 2012.
(6) The two option grants to Ms. Monika Ribar have exercise prices of CHF 14.68 and CHF 34.45. The U.S. dollar
exercise prices are based on the Swiss franc to U.S. dollar conversion rate on the trading day immediately
preceding the grant dates. The U.S. dollar exercise prices as of March 31, 2014 were $16.58 and $38.93.
(7) Mr. Erik Bardman resigned as an executive officer of the Company in April 2013.
Risk Assessment
At a company-wide level, Logitech’s internal audit function coordinates management’s risk assessment
process, which encompasses financial and operational risks, and reports to senior management and to the Audit
Committee of the Board of Directors. Material risks are assessed and discussed by the Board of Directors. Financial
risk assessment and management is integrated into the functions of the Company’s Treasury, Finance and Business
divisions operations, with oversight from the executive and treasury committees. Financial reporting risk is
addressed through the Company’s Corporate Accounting, Financial Reporting and SOX Compliance operations
and processes. Operational risk assessment and management is integrated into the functions of the Company’s
Business divisions, with support from specialized departments such as Quality, Supply Chain, Legal and Finance.
Material financial and financial reporting risks are reported to and reviewed with the Audit Committee and the
Board of Directors as appropriate, and material operational risks are reported to and reviewed with the Board
of Directors.
Note 17 — Other Disclosures Required by Swiss Law (Continued)
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