Governance framework

The Foundation adheres to the highest governance principles and is supervised directly by the Swiss government. It subject to the laws of Switzerland. It is directly supervised by the section of the Swiss Government assigned to Not-For-Profit Organizations.

All corporate powers of the Foundation are exercised by or under the authority of the Foundation Board of Directors. The Board is in charge of all powers not conferred to other executive bodies of the Foundation by its articles and by-laws. The first Board was appointed by the Founder to then constitute and complete itself. The Board of Directors currently consists of 3 members with voting rights. It elects a President, a Vice-President and a Treasurer among its members as well as the other executive bodies: the Auditor and the Scientific Advisory Committee.

The Foundation Board stands for the independence of the Foundation to promote high quality vaccine research, independent of vested interests. The Board works entirely voluntary and advises the Management Team to realize the purpose of the Foundation. The external auditor reviews the financial reports of the organization and ensures compliance with Swiss legal requirements. Price Waterhouse Coopers was re-elected as the external auditor.