AGM
Briefing Notes
Chennai, October 5, 2016
AGM agenda 2016
October 5, 2016, 14:30-15:00
Dear Council Member,
On behalf of the WBCSD Executive Committee, I hereby inform you that our Annual General
Meeting will be held on October 5, 2016 in Chennai, India as part of the WBCSD annual
Council Meeting.
You will find enclosed the AGM agenda and documents that are proposed for your approval
during the meeting. Please allow me to introduce the main elements.
The WBCSD ExCo is proposing the following items for approval during the AGM:





Strategy and Value Proposition (Agenda item 3)
Composition of the Executive Committee (Agenda item 4)
Budget 2017 (Agenda item 5)
Membership Fee Structure for 2017 (Agenda item 6)
Auditor for 2017, 2018 and 2019 (Agenda item 7)
Strategy and Value Proposition (Agenda item 3)
The WBCSD Strategy and Value Proposition, proposed by the ExCo, will be presented during
the AGM for approval.
Composition of the Executive Committee (Agenda item 4)
The following members are stepping down and successors recommended for appointment;



Mr. Marvin Odum, President, Royal Dutch Shell, replaced by Mr. Harry Brekelmans.
Projects & Technology Director
Mr. Vishal Sikka, Managing Director, Infosys, replaced by Mr. Pravin Rao, Chief
Operating Officer
Mr. José Lopez, EVP Operations, Nestlé, replaced by Mr. Magdi Batato, EVP
Operations
Mrs. Katherine Garrett-Cox, CEO, Alliance Trust has stepped down, without replacement.
2
The following sitting members of the ExCo need to be reappointed and have indicated they
are available for re-appointment.



Mr. Masashi Muromachi, Chairman, Toshiba corporation
Mr. Gavin Patterson, CEO, BT plc
Mr. Jean-Pierre Clamadieu, Chairman & CEO, Solvay
As proposed by the ExCo, the AGM is requested to approve an increase of the maximum
number of ExCo members from 14 (as defined in the ExCo Charter) to 18.
Following this expansion, the following new candidates are recommended by the ExCo for
appointment to join the ExCo effective 1 January 2017.:




Mr. Daniel Pinto, CEO, JP Morgan Chase
Mr. Remi Eriksen, Group President & CEO, DNV GL
Mr. Andreas Fibig, Chairman & CEO, IFF
Mr. Svein-Tore Holsether, President & CEO, Yara
The ExCo and management team of WBCSD wish to thank Mr. Marvin Odum, Mr. Vishal
Sikka, Mr. José Lopez and Mrs. Katherine Garrett-Cox for their valuable input, strong
commitment and many years of service to our ExCo and organization.
The Chairmanship of Mr. Paul Polman, Unilever will reach the end of term in 2017 and the
ExCo will select a new Chairperson during the course of 2017.
At the March 2016 session of the ExCo held at Unilever head offices in London, Mr. Peter
Bakker was re-appointed to the post of President & CEO for a second 5-year term from
January 2017 to December 2021.
Financials (Agenda item 5)
The audited financial statements for 2015 have been approved by the ExCo and are included
in appendix B for your information.
WBCSD reserves today total CHF 4.9m, of which capital is CHF 3.0m, cumulated surpluses
CHF 0.5m and a recession reserve of CHF 1.4m. These reserves represent 4.2 months of
total annual core expenditure.
3
Our reserves target is CHF 7.0m, or 6 months of total annual core expenditure. A plan will
be presented to the October ExCo in Chennai to reach this target, and the AGM will be
presented with a summary by the CEO.
Our forecast for 2016 is a loss of CHF 337k due to membership fees collected being lower
than budget, but with better cost recovery from foundations and without contribution to
reserves.
Budget 2017 is based on a conservative revenue expectation, considering that the fee
increase will be implemented in 2017, and shows a result of CHF 39k positive after a
contribution of CHF 250k to reserves. The budget, shown in appendix A, covers the current
work program and new key priorities for 2017 and is proposed by the ExCo for your
approval.
Membership Fee Structure for 2017 (Agenda item 6)
Over recent years, the WBCSD impact has visibly grown and is expected to grow further,
without any fee increase since 2010. Significant investment has been made into flagship
projects such as Action2020, Redefining Value and LCTPi.
The AGM is asked to approve the following fee structure as proposed by the ExCo;


Membership fee CHF 80,000 (already approved at 2015 AGM)
Membership fee inclusive of meetings CHF 85,000 (already approved at 2015 AGM)


3-year Membership fee CHF 225,000 (to be paid upfront)
3-year Membership fee inclusive of meetings CHF 240,000 (to be paid upfront)

Project member fee for maximum of 12 months, on invite of project: CHF 20,000

Small/mid-size membership (< $ 1 billion (non-consulting revenue)): CHF 30,000 annual
fee, on invite of project/SMT
Auditor (Agenda item 7)
Deloitte have been WBCSD auditors since 2005 and a Partner rotation was requested for the
2014 financial statements as good practice around auditor independence.
Over the summer, we ran an RFP process with the Big4 audit firms, which allows us to
reduce our annual audit fee from CHF 32,500 to CHF 27,500 (15%).
4
Our recommendation, for AGM approval, is to confirm Deloitte as auditors for years 2017,
2018 and 2019 and then change to another Big4 firm consistent with good auditor rotation
practice.
Council Members who are not able to attend the AGM in person can use the online proxy
form to vote. Please note that proxies can only be given to the Chairman of the meeting or
to another Council Member who will be present in person at the meeting. Please also note
the Articles of Association do not provide for proxies to be given to Liaison Delegates.
To enable proper voting please email your proxy to Linda Jonker ([email protected]) as
soon as possible, the deadline being close of business Friday September 16, 2016.
I look forward to meeting you again in Chennai in early October for our Council Meeting and
AGM.
Best regards,
Paul Polman
Chairman
World Business Council for Sustainable Development
5
Agenda
WBCSD Annual General Meeting
Hotel ITC Grand Chola, Chennai, India
Wednesday October 5, 2016 14:30-15:00
1. Opening by Chairman
2. President’s update
3. Approval of Strategy and Value Proposition
4. Appointment of Members of the Executive Committee from 1 January 2017
5. Approval of the Budget for the year 2017
6. Approval of the Member Fee structure for 2017
7. Approval of the auditor for 2017, 2018 and 2019
8. Any Other Business
Appendix A: Executive Committee composition from 1 January 2017
Appendix B: Budget for the year 2017
Appendix C: Financial Statements and Auditor’s Report for the year ended 31 December 2015
Appendix D: ExCo profiles
6
Appendix A: Executive Committee composition from 1 January 2017
7
8
Appendix B: Budget for the year 2017
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
Statement of income and expenditure
Financial Statements presentation
2013
2014
2015
2016
2016
2017
Actual
Actual
Actual
Budget
Forecast
Budget
Membership fees
13,010,686 12,859,708 13,237,458 14,625,000
Project income
5,527,547 6,258,797 8,264,547 6,206,049
Events income
991,313 1,086,770 1,649,617 1,000,000
Employment costs charged to member projects 1,265,039 1,480,854 1,564,088 1,450,323
Costs charged to Foundations
165,000
Other operating income
598,382
150,572
76,589
-
13,744,500
6,051,087
1,016,276
1,537,745
465,852
-
13,772,000
6,032,365
1,016,276
1,770,638
379,306
-
Total income
21,392,967 21,836,701 24,792,299 23,446,372
22,815,460
22,970,585
Employment costs
10,569,904 11,177,047 11,873,777 11,204,642
Project costs
7,650,966 7,384,497 8,669,677 7,478,049
Travel costs
1,202,848
879,499
835,638
662,000
Events costs
850,581
997,206 1,524,087 1,000,000
International offices
585,847
671,894
920,000
Office expenses
560,394
885,958
882,477
848,440
Information and Communication Technologies
820,185
630,223
675,715
832,131
Administration and other operating costs
207,992
104,294
112,776
82,252
11,444,544
7,323,087
732,000
1,012,376
878,333
848,440
832,131
82,252
11,529,496
6,704,365
752,000
1,012,376
920,000
848,440
832,131
82,252
Total expenditure
23,153,163
22,681,060
-337,703
289,525
CHF
Excess (shortfall) of income over expense
21,862,870 22,644,571 25,246,041 23,027,514
-469,903
-807,870
-453,742
Financial costs
Financial income
-48,045
29,875
-133,551
128,382
-92,112
-1,753
-
-
-
Total financial income (costs)
-18,170
-5,169
-93,865
-
-
-
Contribution to reserve
418,858
320,000
-
250,000
Net surplus (deficit) for the year
-488,073
-813,039
-547,607
98,858
-337,703
39,525
Capital surplus at the beginning of the year
5,343,779
4,855,706
4,042,666
3,495,059
3,495,059
3,157,356
Capital surplus at the end of the year
4,855,706
4,042,666
3,495,059
3,913,917
3,157,356
3,446,881
Appendix C: Financial Statements and Auditor’s Report
for the year ended 31 December 2015
Financial
Statements 2015
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
Balance sheet
Assets in CHF
Notes
31.12.2015
31.12.2014
1
2
9'339'907
11'082'590
296
18'388
1'958'327
28'919
10'104'521
9'979'849
18'181
1'821'807
13'844
22'428'427
21'938'202
214'541
1'904'247
121'168
2'796'175
2'118'788
2'917'343
24'547'215
24'855'545
31.12.2015
31.12.2014
1'155'030
42'041
1'636'649
855'094
13'158'161
900'933
722'105
116'338
1'288'893
1'020'526
12'517'900
950'941
17'747'908
16'616'703
1'400'000
1'904'247
1'400'000
2'796'175
3'304'247
4'196'175
21'052'155
20'812'878
Capital
Cumulative surplus
Net deficit for the year
3'000'000
1'042'667
-547'607
3'000'000
1'855'706
-813'039
Total capital and cumulative surplus
3'495'060
4'042'667
24'547'215
24'855'545
Cash and cash equivalent
Accounts receivables trade
Accounts receivables intercompany
Other receivables
Prepaid expenses
Accrued income
Total current assets
Subsidiaries US and India
Restricted cash
8
Total non-current assets
Total assets
Liabilities in CHF
Accounts payable trade
Accounts payable intercompany
Accrued liabilities
Provisions
Deferred income
Advances received
Notes
6
2
Total current liabilities
Recession reserve
Restricted funds
7
Total reserves and restricted funds
Total liabilities, reserves and restricted funds
Total liabilities and capital
1
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
Statement of income and expenditure
In CHF
Notes
2015
2014
13'237'458
8'238'715
1'649'617
1'564'088
102'421
12'859'708
6'190'622
1'136'570
1'480'854
168'945
24'792'299
21'836'699
11'973'510
1'564'088
6'112'705
1'565'827
1'524'575
847'571
890'310
737'645
118'791
11'188'694
1'480'854
5'130'292
1'528'059
1'019'780
585'847
887'607
690'880
110'108
25'335'022
22'622'121
-542'723
-785'422
-153'799
148'915
-176'325
148'708
-4'884
-27'617
Net deficit for the year
-547'607
-813'039
Capital surplus at the beginning of the year
4'042'667
4'855'706
Capital surplus at the end of the year
3'495'060
4'042'667
Membership fees
Project income
Events income
Employment costs charged to member projects
Other operating income
3, 12
12
12
12
12
Total income
Employment costs
Employment costs charged to member projects
Project costs
Travel costs
Events costs
International offices
Office expenses
Information and Communication Technologies
Administration and other operating costs
12
12
12
12
12
12
4, 12
5, 12
12
Total expenditure
Shortfall of income over expense
Financial costs
Financial income
12
12
Total financial costs
2
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
Notes to the financial statements 2015
Formation and activity
The World Business Council for Sustainable Development (WBCSD), an Association under the Swiss Civil Code, is
a CEO-led organization of some 200 forward-thinking global companies committed to galvanizing the global
business community to create a sustainable future for business, society and the environment. The WBCSD provides
a forum for its member companies who represent all business sectors and a combined revenue of more than $8.5
trillion and 19 million employees to share best practices on sustainable development issues and to develop
innovative tools that change the status quo. The Council also benefits from a network of 70 national and regional
business councils and partner organizations, the majority of which are based in developing countries.
The WBCSD was formed in January 1995 through a merger between the Business Council for Sustainable
Development (BCSD) in Geneva and the World Industry Council for the Environment (WICE), an initiative of the
International Chamber of Commerce (ICC), in Paris. Those two parent bodies had been at the forefront of business'
response to the challenges arising from the Earth Summit in Rio de Janeiro in 1992. Today, the WBCSD is carrying
forward that initiative and has become the pre-eminent business voice on sustainable development issues.
During 2010, WBCSD expanded its presence into the United States through establishing a subsidiary company to
perform certain activities on behalf of the Association. Additional details on expenses incured by the subsidiary are
shown in note 8. Further expansion in the form of an Indian registered subsidiary happened in 2013.
Summary of significant accounting policies
WBCSD presents its financial statements in accordance with the new financial reporting law required by the Swiss
code of obligations. The new financial reporting law has limited implications for WBCSD and mainly resulted in
minor changes in the presentation of the financial statements and related notes.
a) The WBCSD uses the accruals basis for expenditure and income.
b) All expenditure on fixed assets consisting of office furniture and equipment is directly charged to
expenditure at the time of purchase.
c) The WBCSD's accounting records are maintained in Swiss francs. Assets and liabilities denominated in
currencies other than Swiss francs are recorded on the basis of exchange rates ruling at the Swiss VAT
previous month average rates. A revaluation at year end exchange rate is applied. Income and expenditure in
currencies other than Swiss francs are recorded on the basis of exchange rates ruling at the transaction date.
d) A provision for future expenditure can be recorded in the financial statements when it is assessed that an
event will generate an outflow of economic resources.
e) The WBCSD is exempt from federal, cantonal and communal taxes on income or capital. The WBCSD is
subject to Swiss VAT.
f) The Directors of the Association have decided not to prepare separate consolidated financial statements
following the incorporation of the subsidiaries (WBCSD U.S. Inc. & WBCSD India). The decision is based
on the belief that it is more meaningful to present the financial impact of the subsidiaries as a separate line
within the Association financial statements and that the investments are immaterial. More information is
given in note 8.
3
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
Notes to the financial statements 2015
1.
Contingent liabilities and guarantees
Guarantees at UBS for employees' rents amounts to CHF 110'539 (2014: CHF 87'764).
An amount of CHF 2'652 (2014: CHF 2'652) is blocked at UBS as bank guarantee for an apartment used
by employees.
In addition, an amount of CHF 164'976 is blocked at UBS as a bank guarantee for office space rental.
The WBCSD has leasing commitments in relation to printers & a car amounting to CHF 60'197 (2014: CHF
38'997). In addition there is a commitment of CHF 1'811'400 for the office space rental.
2.
Revenue recognition
Membership fee revenues are recognized in the year to which they relate on an accrual basis. The WBCSD
issues membership invoices related to the subsequent year in the last months of the current year. Deferred
income is recognized at the time of issuing the invoices.
Of the CHF 12'698'000 (excluding VAT) invoiced for 2016 membership fees, CHF 2'684'986 had been
received as at December 31, 2015.
3.
Membership fees
The annual fees payable by the members are determined by the Annual General Meeting of the WBCSD.
4.
Office expenses
Office WBCSD
Leasing
Insurances
Office Supplies
Professional Services
Office Equipment
5.
Information and Communication Technologies
Communication
Professional Services IT
Information Technology
4
2015
CHF
2014
CHF
783 958
12 544
57 652
35 659
0
497
642 634
23 933
28 145
33 275
131 073
28 547
890 310
887 607
2015
CHF
2014
CHF
383 023
89 479
265 143
312 892
41 399
336 589
737 645
690 880
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
Notes to the financial statements 2015
6.
Provisions
In relation to the provisions against future events existing at December 31, 2014 CHF 165'432 relating to the
Conches building have been utilized during 2015.
7.
Attribution to recession reserve
As approved by Executive Committee ("ExCo") at its meeting of February 2, 2009, CHF 1'400'000 was
attributed to the recession reserve as at December 31, 2008. This reserve remains unchanged.
8.
Subsidiaries
During April 2010, WBCSD incorporated WBCSD U.S. Inc. as a wholly owned subsidiary under the laws of
Washington, the District of Columbia, USA. WBCSD created WBCSD U.S. Inc. for the primary purpose of
furthering the mission of WBCSD in the United States, providing services on behalf of WBCSD to its
members with a U.S. presence, and providing such other services that WBCSD may request. WBCSD
compensates WBCSD U.S. Inc. for services rendered on essentially a cost-plus basis. In 2015 the office
relocated to New York City.
WBCSD India Private Limited (‘the Company’) was incorporated on June 3, 2013 having registration
number U91900DL2013FTC253421 with the objective to provide support in India to furtherance of the
WBCSD Global Mission, ensure a steady and clear flow of information between the WBCSD Secretariat in
Geneva and the members of WBCSD with an India presence; assess the needs and desires of such members,
evaluate the India-based opportunities for WBCSD; organize, arrange and coordinate project and workshop
meetings among WBCSD and its members in India. WBCSD compensates WBCSD India for services
rendered on essentially a cost-plus basis.
Subsidiaries' value is recognized as an asset on the balance sheet as follow:
2014
US
CHF
2014
India
CHF
2014
Total
CHF
Share Capital
Current results
52 941
17 899
40 053
10 275
92 994
28 174
Equity
70 840
50 328
121 168
2015
US
CHF
2015
India
CHF
2015
Total
CHF
Share Capital
Current results
71 062
20 818
70 851
51 811
141 912
72 629
Equity
91 880
122 661
214 541
5
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
Notes to the financial statements 2015
9.
Significant events
No significant events have occurred after the balance sheet date, which could have influence on the
evaluation of the financial report.
10.
Full time equivalent
The total average number of employees (full-time equivalents) during the year 2015 is more than 50
employees (2014: more than 50).
11.
Debts to pension institutions
There are no debts of WBCSD to pension institutions as of 31 December 2015. Balance is in favour of
WBCSD for 1'680'577 CHF in 2015 (1'561'308 CHF in 2014).
6
WORLD BUSINESS COUNCIL FOR SUSTAINABLE DEVELOPMENT, GENEVA
12. Detailed statement of income and expenditure per activity
2015
In Swiss francs
Year ended December 31
Core
2014
Sector /
Business
Redefining
Value Chain
solutions
Value
Projects
TOTAL
Core
Sector /
Business
Redefining
Value Chain
solutions
Value
Projects
TOTAL
Income
Membership fees
13 237 458
0
0
0
13 237 458
12 859 708
0
0
0
12 859 708
Project income
954 822
1 575 696
5 304 640
403 557
8 238 715
517 942
926 638
4 734 018
12 024
6 190 622
Events income
1 649 617
0
0
0
1 649 617
1 086 770
0
49 800
0
1 136 570
Employment costs charged to member projects
1 564 088
0
0
0
1 564 088
1 480 854
0
0
0
1 480 854
76 589
2 432
23 400
0
102 421
150 571
347
18 027
0
168 945
17 482 574
1 578 128
5 328 040
403 557
24 792 299
16 095 845
926 985
4 801 845
12 024
21 836 699
11 177 046
Other operating income
Total Income
Expenditure
Employment costs
11 873 777
0
3 743
95 990
11 973 510
114 888
1 449 200
0
1 564 088
1 465
2 177
8 006
11 188 694
80 430
1 400 424
0
1 359 952
1 084 250
3 407 689
260 814
6 112 705
1 480 854
1 678 255
591 877
2 859 259
901
Travel costs
835 638
263 054
424 736
42 399
5 130 292
1 565 827
879 498
188 978
456 503
3 080
Events costs
1 524 087
0
488
1 528 059
0
1 524 575
997 204
3 859
18 717
0
International offices
671 894
98 986
1 019 780
76 691
0
847 571
551 237
34 402
208
Office expenses
882 477
3 820
3 695
318
890 310
885 958
927
722
0
Information and Communication Technologies
887 607
675 715
23 334
36 118
2 478
737 645
630 224
22 883
37 766
7
Administration and other operating costs
690 880
112 776
1 360
4 533
122
118 791
104 295
187
5 596
30
110 108
17 936 316
1 589 692
5 406 893
402 121
25 335 022
16 903 717
925 008
4 781 372
12 024
22 622 121
( 453 742)
( 11 564)
( 78 853)
1 436
( 542 723)
( 807 870)
1 977
20 473
0
( 785 422)
( 92 112)
( 8 581)
( 51 622)
( 1 484)
( 153 799)
( 133 547)
( 3 167)
( 39 611)
0
( 176 325)
( 1 753)
20 145
130 475
48
148 915
128 380
1 190
19 138
0
148 708
( 93 865)
11 564
78 853
( 1 436)
( 4 884)
( 5 167)
( 1 977)
( 20 473)
0
( 27 617)
Deferred revenue at the beginning of the year
950 941
1 816 065
980 110
3 747 116
1 139 047
1 864 972
0
3 004 018
Deferred revenue at year end
900 934
1 333 819
570 429
2 805 181
950 941
1 816 065
980 110
3 747 116
0
0
0
0
0
0
Employment costs charged to member projects
Project costs
Total expenditure
Excess (shortfall) of income over expense
Financial costs
Financial income
Total financial income (costs)
Net surplus (deficit) for the year
Capital surplus at the beginning of the year
Capital surplus at the end of the year
( 547 607)
4 042 667
3 495 060
7
( 547 607)
( 813 039)
4 042 667
3 495 060
4 855 706
4 042 667
585 847
( 813 039)
4 855 706
4 042 667
Appendix D: ExCo profiles
Paul Polman
Chief Executive Officer
Unilever
Paul Polman has been CEO of Unilever since January 2009. Under his leadership Unilever has an ambitious
vision to fully decouple its growth from overall environmental footprint and increase its positive social impact
through the Unilever Sustainable Living Plan.
Paul actively seeks cooperation with other companies to implement sustainable business strategies and drive
systemic change. He is Chairman of the World Business Council for Sustainable Development, a member of the
International Business Council of the World Economic Forum, a member of the B Team and sits on the Board
of the UN Global Compact and the Consumer Goods Forum, where he co-chairs the Sustainability Committee.
Paul has been closely involved in global discussions on action to tackle climate change and the Post-2015
development agenda. He served on the International Council of the Global Commission on the Economy and
Climate, under former Mexican President, Felipe Calderon, whose flagship report ‘New Climate Economy’
demonstrates that lasting economic growth can be achieved at the same time as reducing the immense risk of
climate change. At the invitation of the UN Secretary-General, Paul also served on the High Level Panel on the
Post-2015 Development Agenda, presenting recommendations on the successor to the Millennium
Development Goals.
Other roles include: UK Business Ambassador by invitation of former UK Prime Minister David Cameron,
member of the Global Taskforce for Scaling up Nutrition, Counsellor of One Young World. Paul was also cochair of the B-20 Food Security Task Force.
Since 2010, Paul has been a non-executive director of the Dow Chemical Company.
In recognition of his contribution to responsible business, Paul has received numerous awards and recognition,
including the Atlantic Council Award for Distinguished Business Leadership (2012), WWF's Duke of Edinburgh
Gold Conservation Medal (2013), the Centre for Global Development’s Commitment to Development Ideas in
Action Award (2013), the Rainforest Alliance Lifetime Achievement Award (2014), and the UN Foundation’s
Champion for Global Change Award (2014).
He earned a BBA/BA from the University of Groningen, Netherlands, in 1977 and an MA Economics and MBA
finance/international marketing from the University of Cincinnati in 1979. He has been awarded honorary
degrees from a number of Universities, including Newcastle, Liverpool, Groningen and the University of
Cincinnati.
Paul is married with three children. In a personal capacity, Paul is Chairman of Perkins School for the Blind
International Advisory Board and serves as President of the Kilimanjaro Blind Trust
Ana Botín
Executive Chairman
Banco Santander
Before her appointment as Executive Chairman in September 2014, Ms Botín was CEO of Santander
UK plc. In less than four years as CEO of Santander UK plc, she turned three former building societies
into one of Britain's most successful banks. She challenged the established order in UK banking, with
Santander aspiring to be simple, personal and fair in all it does.
Santander moved from Money Savings Expert's worst to the best current account provider on the
UK high street. The number of loyal customers more than doubled to 3 million, thanks largely to the
pioneering 1|2|3 Current Account. SME lending also increased by 50% between 2012 and 2014.
Under her leadership Santander UK was named one of the top 25 large employers to work for by
The Sunday Times.
Ms Botín began her career at JP Morgan, New York, where she worked for 8 years. In 1988, she
joined Banco Santander to lead the Group’s expansion in Latin America in the 90’s. In 1999, she set
up and ran an IT web consultancy firm.
From 2002 until December 2010, Ms Botín was Executive Chairman of Banesto, recognised as the
Best Bank in Spain for three consecutive years by Euromoney.
Ms Botín is an active leader in philanthropy. She is the founder and Chair of CyD Foundation, which
supports and promotes the contribution made by Spanish universities to economic and social
development in the country, Empieza por Educar (Spanish affiliate of Teach for All).
She serves on the U.K Prime Minister’s Business Advisory Board. Ms. Botín is also a Board member of
the Coca-Cola Company and a member of the MIT’s CEO Advisory Board. Ms Botín earned her BA in
Economics from Bryn Mawr College.
Gavin Patterson
Chief Executive Officer
BT
Gavin joined BT in 2004 as Group Managing Director of BT Retail’s Consumer division. Prior
to this, Gavin spent four years at Telewest (now Virgin Media) latterly as Managing Director
Consumer and also nine years at Procter and Gamble, rising to become European Marketing
Director.
Gavin says that one of the reasons for moving to BT in 2004 was because it was an
organisation with a rich history and an exciting future – which is even truer today. Gavin was
appointed Chief Executive, BT Retail in May 2008 and joined the BT Group plc board in June
2008. Under his leadership BT Retail launched BT Infinity super-fast fibre broadband, drove
growth in IT services and built the largest Wi-Fi network in the UK and Ireland. He also led
BT’s involvement in the evolution of digital TV services. This includes being a founder
partner in YouView and the creation of BT Sport which launched in August 2013.
Gavin was appointed Chief Executive Officer, BT Group plc in September 2013. In addition,
Gavin is a non-executive Director of British Airways and a Trustee of The British Museum.
From 2010-2013 Gavin sat on the advisory board of the Cambridge Judge Business School
and from 2011-2014 he was President of the Advertising Association.
Bruno Lafont
Co-Chairman
LafargeHolcim
Bruno Lafont (born in 1956) is a graduate of the Hautes Etudes Commerciales leading business
school (HEC 1977, Paris) and the Ecole Nationale d'Administration (ENA 1982, Paris).
He started his career at Lafarge in 1983. Up until 1988, he held various positions in Finance and
international development. In particular, he spent 5 years in Turkey, managing Lafarge's operations
in Turkey and leading the Group's expansion in Turkey and the Eastern Mediterranean region. He
joined the Group's Executive Committee in 1995, and was appointed Group Executive Vice
President, Finance. In 1998, he became President of the Gypsum division and successfully
orchestrated its international expansion in Asia, Europe and North America.
In May 2003, Bruno Lafont was appointed Chief Operating Officer of the Group, with joint
responsibility for the Cement division and supervising the Aggregates & Concrete division and the
North America region. He accelerated the Group's Cement development in Asia, in particular
through the joint-venture with Shui On in China, and identified innovation as a key factor of market
differentiation and added value in concrete products.
Under his leadership, Lafarge set about redefining the Group's vision and reformulating its principles
of action by rallying all its employees around the same priorities.
Bruno Lafont was appointed as a Member of the Group's Board of Directors on May 25, 2005. On
January 1, 2006, he became Chief Executive Officer, subsequently launching the "Excellence 2008"
strategic plan in June 2006, to make the Group the best in its sector. 2006 saw two major strategic
operations: the buyout of minority interests in Lafarge North America and the sale of the Roofing
business.
In May 2007, Bruno Lafont was appointed Chairman and Chief Executive Officer of the Group.
In December 2008, he announced the acquisition of Orascom Cement, the leading cement player in
the Middle East and Mediterranean Basin, marking a decisive acceleration of the Group's
development in fast growing emerging markets.
He is special adviser to the mayor of Chongqing, a Chinese city with 32 million inhabitants.
He is a member of the Board of EDF and Arcelor Mittal.
José Luciano Penido
Chairman
Fibria
José Luciano Penido has also been Chairman of the Board of FIBRIA Celulose S.A., the largest
global producer of Eucaliptus Wood Market Pulp, since November 2009.
He is also Chairman of the Board of Bracelpa (The Brazilian Pulp & Paper Association),
former Co-chairman of the WBCSD’s - World Business Council for Sustainable Development
– Forest Solutions Group, a member of the Brazilian Economic and Social Development
Council, a National Board to provide contributions & proposals to the Presidency of Brazil,
an independent Board Member of Copersucar S.A., the largest Brazilian Sugar & Ethanol
producer, and Orteng Group, a Brazilian manufacturer of electrical industrial equipment and
supervisory & automation systems, member of the Corporate Governance, Ethics and
Sustainability Committee of Santander Brasil, and Board Member of the Ethos Institute Enterprises & Social Responsibility (Instituto Ethos de Empresas e Responsabilidade Social).
Previously, for twelve years, he served as CEO of Samarco Mineração, a producer of iron ore
pellets in Brazil. Mr. Penido has always kept a management focus on People and
Sustainability as a solid support for long term outstanding results.
Mr. Penido has a bachelor’s degree in Mining Engineering with a long career in large mining
projects.
Vishal Sikka
Chief Executive Officer and Managing Director
Infosys Limited
Dr. Sikka has been CEO & Managing Director of Infosys since August 1, 2014.
Dr. Sikka served as the Chief Technology Officer of SAP SE (alternative name SAP AG) from May 30,
2007 to May 4, 2014 and served as Member of its Executive Board from February 7, 2010 to May 4,
2014. He served as a Member of the Global Managing Board at SAP AG from April 2012 to May 4,
2014, leading all SAP products and innovation.
He was a founder of Bodha and served as its President, Chief Executive Officer and Chairman of the
Board with global responsibility for development and delivery of all products across SAP’s product
portfolio including Applications, Analytics, Cloud, Database & Technology and Mobile. He was
responsible for leading the design and end-user experience for SAP, and for driving all innovation
globally.
He served as Area Vice President for Platform Technologies at Peregrine Systems, responsible for
application development and integration technologies and architecture. He joined Peregrine
following the acquisition of Bodha, Inc.
He has extensive experience with internet, aggregation and distributed e-commerce research using
database and knowledge-based technologies. He has been a Whole-Time Director of Infosys Ltd.
since June 14, 2014. He served as Member of Advisory Board of Coghead, Inc. since October 2006.
Vishal received his BS in Computer Science from Syracuse University and holds a Ph.D. in Computer
Science from Stanford University, USA.
Mr. Masashi Muromachi
President & CEO
Toshiba Corporation
Mr. Masashi Muromachi has been the Chief Executive Officer and President of Toshiba
Corporation since July 2015.
Mr. Muromachi served as Corporate Senior Executive Vice President of Toshiba Corp. since
June 2008, Corporate Executive Vice President from June 2006 to June 2008, Corporate Vice
President since June 2004 and Corporate Senior Vice President from June 2005 to June
2006.
He has been the Chairman of Toshiba Corporation since June 2014 and Director since June
2008. He serves as an Outside Corporate Auditor of H2O Retailing Corporation. He has been
a Representative Executive Officer of Toshiba Corporation since July 2015.
Mr. Muromachi received a Master's degree in Science and Engineering from Waseda
University in March 1975.
Takeshi Uchiyamada
Chairman of the Board
Toyota Motor Corporation
Takeshi Uchiyamada was born August 17, 1946. He graduated from Nagoya University with
a degree in applied physics in March 1969 and joined Toyota Motor Corporation (TMC) in
April the same year.
In January 1994, Mr. Uchiyamada became project general manager of Vehicle Development
Center 2. In January 1996, he became chief engineer of that center, which developed the
Prius—the world’s first mass-produced gasoline-electric hybrid car.
After being named to the Board of Directors in June 1998, Mr. Uchiyamada oversaw Vehicle
Development Center 3. In June 2000, he became chief officer of Vehicle Development
Center 2, and in June 2001, managing director and chief officer of the Overseas Customer
Service Operations Center. Mr. Uchiyamada was made a senior managing director and also
appointed chief officer of the Vehicle Engineering Group in June 2003.
In June 2004, he became a chief officer of the Production Control & Logistics Group, and in
June 2005, he became an executive vice president. Mr. Uchiyamada was appointed vice
chairman of the board of directors in June 2012 and chairman in June 2013.
Mr. Cao Yaofeng
Board Director of Sinopec Corp
Vice President of China Petrochemical Corporation
Mr. Cao is a professor level senior engineer with a master degree. In April 1997, he was
appointed as Deputy Director General of Shengli Petroleum Administration; in May 2000, he
served concurrently as Vice Chairman of the Board of Directors of Sinopec Shengli Oilfield
Co., Ltd.; in December 2001, he served as Board Director and President of Sinopec Shengli
Oilfield Co., Ltd.; in December 2002, he served as Director General of Shengli Petroleum
Administration of China Petrochemical Corporation and Chairman of Board of Directors of
Sinopec Shengli Oilfield Company Limited; from April 2003 to May 2006, he served as
Employee Representative Board Director of Sinopec Corp.; in October 2004, he was
appointed as Assistant to President of China Petrochemical Corporation; in November 2005,
he was appointed as Vice President of China Petrochemical Corporation; in May 2009, he
was elected as Board Director of Sinopec Corp.; in June 2012, he was appointed
concurrently as Chairman of Sinopec Oilfield Service Corporation.
Jean Pierre Clamadieu
Chairman of the Executive Committee and CEO
Solvay
Jean-Pierre Clamadieu began his career in France in the Ministry of Industry and as a
technical advisor to the Minister of Labor. He joined Rhône-Poulenc in 1993 where he held
several positions, including President of Rhodia Chemicals Latin America, President of
Rhodia Eco Services, Senior Vice-President Corporate Purchasing, and President of the
Pharmaceuticals & Agrochemicals Division.
He was appointed CEO of the Rhodia Group in 2003 and Chairman & CEO in 2008. After the
merger with Solvay, he became a member of the Executive Committee in September 2011
and CEO in 2012. He holds a degree in engineering awarded by the Ecole Nationale
Supérieure des Mines de Paris. Mr Clamadieu also holds seats on the Boards of Directors of
Faurecia and Axa.
José Lopez
Former Executive Vice President of Operations - Globe
(Global Business Excellence, IS/IT)
Nestlé
José Lopez is Former Executive Vice President of Operations - Globe (Global Business
Excellence, IS/IT) at Nestle SA. As such, he was responsible for Procurement, Production,
Supply Chain, Health & Safety, Environment, Quality Management and Engineering.
Mr Lopez is Vice Chairman of the Management Board of GS1 and a Member of the Executive
Board of Nestlé SA. He served as Head of Japan at Nestle SA until February 2007, was
appointed Chief Executive Officer of Nestlé Japan Group in 2003, and Managing Director of
Nestlé Malaysia Bhd and Head of Region Malaysia/Singapore in 1999. He became Executive
Director of Operations in Oceania in charge of Technical Division, Supply Chain Operations
and Export in 1997 and was made Technical Director of Nestlé Australia in 1995.
José Lopez held various executive positions at Nestlé in Vevey, Switzerland from 1979 to
1995 including: Factory Manager of Pet Food Division, France; Engineering Manager (Coffee,
Milk, Confectionery and Culinary), Japan; Factory Engineer, Coffee Division, USA; Project
Manager of Coffee Division, Spain and joined Nestlé in Vevey, Switzerland in 1979 as a
Project Engineer. He serves as a Member of Executive Board Global Commerce Initiative
(BE).
Mr Lopez studied an Advanced Management Programme at IMD Lausanne, Switzerland
from 1992 to 1998. He holds a Degree in Mechanical Engineering from the University of
Geneva, Switzerland. Mr Lopez is the Board-level representative for Nestlé on the
Cambridge Natural Capital Leaders Platform, of which Nestle is a Founding Member. The
Platform has recently prepared a Leadership Compact setting out business commitments in
relation to natural capital.
Biographies of Incoming ExCo members
Pravin Rao
Chief Operating Officer and Member of the Board
Infosys
Pravin Rao is responsible for driving growth and differentiation across the portfolio. In
addition, he is responsible for Global Delivery, Quality and Productivity, Supply Chain and
Business enabling functions. Pravin is also Chairperson of Infosys BPO.
Pravin has over 28 years of experience. Since joining Infosys in 1986, he has held a number
of senior leadership roles such as Head of Infrastructure Management Services, Delivery
Head for Europe, and Head of Retail, Consumer Packaged Goods, Logistics and Life Sciences.
Pravin holds a degree in electrical engineering from Bangalore University, India.
Daniel Pinto
CEO
J.P. Morgan’s Corporate & Investment Bank
Daniel Pinto is CEO of J.P. Morgan’s Corporate & Investment Bank, an industry leader in
investment banking, trading markets and investor services such as cash management,
clearing and prime brokerage. He is a member of the firm’s Operating Committee, and also
CEO of the firm’s Europe, Middle East and Africa (EMEA) region.
Daniel has spent his career at J.P. Morgan and its predecessor companies. He began his
career at Manufacturers Hanover in 1983 as a financial analyst and foreign exchange trader
in Buenos Aires. In 1992, he was appointed head of Sales for Chemical Bank in Buenos Aires,
responsible for clients in Argentina, Uruguay and Paraguay. Shortly after, he became head
trader and Treasurer of Chemical Bank in Mexico. Daniel moved to London in 1996 to
oversee local markets in Eastern Europe, the Middle East, Africa and Asia for Chase
Manhattan.
Daniel has managed the markets side of J.P. Morgan’s emerging markets business since
2002, and was made global head of Emerging Markets in early 2006. He was given added
responsibility for the Global Credit Trading & Syndicate business in early 2008. In 2009, he
was made co-head of Global Fixed Income for the Investment Bank before becoming sole
head of the group in 2012. He was also made co-CEO of the Corporate & Investment Bank in
2012.
Daniel holds a bachelor’s degree in Public Accounting and in Science in Business
Administration from Universidad Nacional de Lomas de Zamora in Buenos Aires.
Andreas Fibig
Chairman and Chief Executive Officer
International Flavors & Fragrances Inc.
Andreas Fibig is a global business leader, with more than 25 years of international experience,
including executive responsibilities in Europe, North America, South America, Africa and Asia.
In September, 2014, Mr. Fibig was appointed as Chief Executive Officer of International Flavors &
Fragrances (IFF), based in New York. He is the chief executive responsible for IFF’s worldwide
operations, representing approximately $3 billion in annual revenues, and more than 6,000
employees. He has been a member of the IFF Board of Directors since 2011 and was appointed
chairman December 1, 2014.
Prior to joining IFF, Mr. Fibig was President and Chair of the Board of Management of Bayer
Healthcare Pharmaceuticals (BHP). During his tenure at BHP, the company launched multiple new
medicines to help patients with serious unmet medical needs, while controlling costs, enhancing
business development and marketing capabilities, and accelerating growth to industry leading rates.
Previously, Mr. Fibig was Senior Vice President/General Manager, responsible for Pfizer’s central
nervous system, neurology and pain management operations in the United States. Previously, he
served as Pfizer’s President for Latin America/Africa/Middle East, and as Regional President for Latin
America. Before his move to Pfizer, he had been President and Country Manager for Pharmacia in
Germany, after rising through a series of progressively more senior roles, in Europe and
internationally, for Pharmacia, Boehringer Ingelheim and Schering.
Among the hallmarks of Mr. Fibig’s career are emphases on long-term planning, innovation across all
functional areas, and the establishment of strong, mutually-beneficial partnerships with customers
and stakeholders. He has a record of generating successful results in both highly-competitive
developed markets and emerging growth markets. He has consistently devoted major investment
and interest to people development, making the recognition, reward and promotion of talent a top
priority and a critical success factor among his teams.
Mr. Fibig graduated with a degree in Marketing and Business Management from Berlin’s University
of Economics. Fluent in English and German, Mr. Fibig lives with his wife Corina, a PhD chemist, and
two young children in Westchester County, New York.
Remi Eriksen
Group President and CEO
DNV GL Group
Remi Eriksen became Group President and CEO of DNV GL Group on 1 August 2015, bringing
deep and wide management experience from the oil, gas, energy and maritime industries in
Asia, Europe and the Americas.
He was previously Executive Vice President and Chief Operating Officer at DNV GL Group,
where he grew management skills in leading change in a complex, multi-cultural, global
business environment to create and capture sustainable growth opportunities.
While familiar with general technology challenges and opportunities, Mr. Eriksen’s technical
expertise lies within offshore and marine technology as well as gas value chains. He has
initiated and managed several joint-industry projects in the offshore and marine domain,
resulting in global standards and recommended practices.
Mr Eriksen holds a Master’s in electronics and computer science from the Norwegian
Institute of Technology (NTNU) and conducted his executive education at Rice University,
IMD and INSEAD. In the course of his career he has also published several professional
papers and articles and has become an appreciated public speaker.
Harry Brekelmans
Projects & Technology Director
Royal Dutch Shell
Harry Brekelmans became Projects & Technology Director and a member of the Executive
Committee of Royal Dutch Shell plc on October 1, 2014. He joined Shell after graduating in 1990 with
a degree in Petroleum Engineering from Delft Technical University in the Netherlands.
He began his career in the research and development department of Shell’s Exploration &
Production (E&P) business in the Netherlands, followed by a variety of assignments in Egypt and the
UK. Harry was appointed Internal Audit Manager for Shell E&P Europe in 2003. In 2005 he became
Global Audit Manager for both the E&P and Gas & Power businesses.
From 2007, he was Chief Executive Officer of Salym Petroleum Development, a Shell joint venture in
Russia. In September 2009, he became Executive Vice President (EVP) for Shell Group Strategy &
Planning.
In mid-2011, he returned to Russia as Country Chairman and EVP for Russia and the Caspian region.
He moved back to his native city, The Hague, the Netherlands, in early 2013 to take up a new role as
EVP for Upstream International Operated. Harry is a board member of the Global Leadership and
Technology Exchange, which connects business, governments and civil society in seeking more
efficient, low-carbon growth.
Personal
Harry is married to Petra and they have two children. The family enjoy travelling and sports,
especially tennis and running.
Magdi Batato
Executive VIce President Operations
Nestle S.A.
Born in 1959 in Egypt, Magdi Batato is a Swiss national. He holds a PhD in Thermodynamics
from Ecole Polytechnique Federale de Lausanne (EPFL), a degree from INSEAD in
Manufacturing and completed the Executive Development Program (PED) of IMD Lausanne.
Magdi Batato has worked as Assistant Professor and lecturer at the EPFL and Technicom in
Bienne as well as Project Engineer in an engineering consultancy firm in Lausanne (Bonnard
& Gardel), before joining Nestle in Switzerland in 1991 as Engineer in Industrial Services,
Energy &. Environment. His Factory and Production Management experiences took him to
Germany, Lebanon and South Africa.
In 2004, Magdi Batato was transferred to Malaysia as Executive Director of Production.
In 2009, Magdi Batato moved to Nestle UK & Ireland as Head of Group Technical before
taking over the position of Market Head Pakistan in May 2012.
On October 1st 2015, Magdi Batato returned to Vevey upon his appointment as Executive
Vice President, Nestle S.A., and Head of Operations. As such he is responsible for
Procurement, Manufacturing, Supply Chain, Engineering, Quality Management, Agriculture,
Safety &. Health, Environmental Sustainability and Operations Performance.
Svein Tore Holsether
President and Chief Executive Officer
YARA
Mr. Holsether (born 1972) has served as President and Chief Executive Officer since
September 2015.
Before becoming President and CEO of Yara, Mr. Holsether held the position as President
and CEO of Sapa AS. Prior to this he was EVP M&A Orkla 2010-2011, Business Area President
Sapa Asia & Middle East 2010, CFO Sapa AB 2007-2010, CFO Orkla Specialty Materials 20062007, CFO Elkem ASA 2005-2006, CFO Elkem ASA North American Division 2003-2005, and
various positions within the Elkem group including Vice President Group Control, Group
Controller, Group Financial Analyst 1997-2003.
Mr Holsether holds a BSc degree in Finance & Management from the University of Utah,
USA.