Logitech 2014 Annual Report Download - page 91

The year of appointment and remaining term of office as of March 31, 2014 for each director are as follows:
Name Year First Appointed Year Current Term Expires
Daniel Borel(1) ................................. 1988 Annual General Meeting 2014
Matthew Bousquette(1) .......................... 2005 Annual General Meeting 2014
Kee-Lock Chua(1) .............................. 2000 Annual General Meeting 2014
Bracken Darrell(2) .............................. 2013 Annual General Meeting 2014
Sally Davis(1) .................................. 2007 Annual General Meeting 2014
Guerrino De Luca(2) ............................ 1998 Annual General Meeting 2014
Didier Hirsch(1) ................................ 2012 Annual General Meeting 2014
Neil Hunt(1) ................................... 2010 Annual General Meeting 2014
Monika Ribar(1) ................................ 2004 Annual General Meeting 2014
(1) Non-executive member of the Board of Directors.
(2) Executive member of the Board of Directors.
BOARD RESPONSIBILITIES AND STRUCTURE
The Board of Directors is responsible for supervising the management of the business and affairs of the
Company. In addition to the non-transferable powers and duties of boards of directors under Swiss law, the Logitech
Board of Directors also has the following responsibilities:
• the signatory power of its members;
• the approval of the budget submitted by the Chief Executive Officer;
• the approval of investments or acquisitions of more than $10 million in the aggregate not included in the
approved budgets;
• the approval of any expenditure of more than US $10 million not specifically identified in the approved
budgets; and
• the approval of the sale or acquisition, including related borrowings, of the Company’s real estate.
The Board of Directors has delegated the management of the Company to the Chief Executive Officer and
the executive officers, except where Swiss law or the Company’s Articles of Incorporation or Organizational
Regulations (By-Laws) provide differently.
Board Leadership Structure
The Board has since 1997 had a general practice that the positions of Chairman of the Board and Chief
Executive Officer should be held by separate persons as an aid in the Board’s oversight of management. Since
1997, the Chairman has been a former Chief Executive Officer of the Company and has served as a full-time senior
executive. Logitech believes that there are advantages to having a former Chief Executive Officer as Chairman,
for matters such as: leadership continuity; day-to-day assistance to and oversight of the Chief Executive Officer
and other executive officers; and facilitating communications and relations between the Board, the Chief Executive
Officer, and other senior management.
Mr. De Luca, the Company’s former Chief Executive Officer and current Chairman, has served in that role
since January 2008. On July 27, 2011, Mr. De Luca assumed the role of acting President and Chief Executive Officer,
in addition to continuing his duties as Chairman, at the request of the Board of Directors. The Board appointed
Bracken Darrell as President as of April 9, 2012, and he became the Chief Executive Officer as of January 1, 2013.
The Board considered the holding of both the Chairman and Chief Executive Officer positions by Mr. De Luca as
a temporary arrangement, and returned to its general practice of the positions being held by separate persons upon
the appointment of Mr. Darrell as Chief Executive Officer.
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