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Corporategovernan Ce Straumann Group 2017 Annual Report GOVERNANCE CORPORATE PRINCIPLES 94 GROUP STRUCTURE 94 OPERATIONAL STRUCTURE 94 LEGAL STRUCTURE 95 CAPITAL STRUCTURE 100 SHAREHOLDERS 101 BOARD OF DIRECTORS 104 EXECUTIVE MANAGEMENT BOARD 115 INTERNAL MANAGEMENT DEVELOPMENT 123 COMPENSATION, SHAREHOLDINGS AND LOANS 123 CHANGES OF CONTROL AND DEFENCE MEASURES 123 INFORMATION AND CONTROL MECHANISMS FOR THE BOARD 123 OF DIRECTORS AND THE EXECUTIVE MANAGEMENT BOARD 125 EXTERNAL AUDITORS 125 INFORMATION POLICY Straumann Group 94 Corporate governance 2017 Annual Report PRINCIPLES The principles and rules of the Straumann Group’s corporate governance are laid down in the Articles of Association, the organizational regulations, the Code of Conduct, and the charters of the Supplementary details Board Committees. They are the basis of our corporate governance disclosures, which comply with can be found at the Directive on Information relating to corporate governance published by the SIX Swiss www.straumann-group.com Exchange, where Straumann’s shares have been traded since the company’s initial public offering in 1998. > Investor information > Corporate governance GROUP STRUCTURE Straumann Holding AG is a listed stock corporation incorporated under the laws of Switzerland and domiciled as well as registered in Basel. It is the parent company of the Straumann Group (referred to also as ‘the Group’), which is headquartered in Basel and, as of 31 December 2017, includes 55 wholly-owned and 5 partially-owned subsidiaries (see chart on p. 96 f.) as well as 10 companies in which non-controlling interests are held (see table on p. 99). OPERATIONAL STRUCTURE In 2017, the Straumann Group comprised the following operational groups/departments and sales regions (in alphabetical order): • Corporate Services, comprising: Corporate Communications & Investor Relations, Global People Management & Development, Legal, Compliance & Intellectual Property, Strategic Planning & Business Development • Customer Solutions & Education, comprising: Customer Marketing, Training & Education, Marketing Communications, Product Management SDIS • Instradent Management, which started to assume responsibility for Dental Service Organizations in the second half of 2017 (Dental Service Organizations will be fully operational 1 January 2018) • Digital (fully operational 1 January 2018), comprising: Manufacturing Operations and Orthodontics • Finance, comprising: Controlling, Corporate Accounting & Reporting, Treasury and all other finance-related functions; Corporate IT, Corporate Procurement, Facility Management • Research, Development & Operations, comprising: Project Management, Research & Development, Technology & Testing; Corporate Logistics, Production, Quality Management & Regulatory Affairs • Sales Distributors (excluding APAC and LATAM) & Emerging Markets • Sales Europe Straumann Group 95 Corporate governance 2017 Annual Report • Sales North America • Sales Latin America including regional Distributor Management; Neodent production, Brazil • Sales Asia/Pacific including regional Distributor Management. LEGAL STRUCTURE LISTED COMPANIES Straumann Holding AG is listed in the main segment of the Swiss stock exchange. No other Name Straumann Holding AG company controlled by Straumann Holding AG is listed on a stock exchange. Domicile Peter Merian-Weg 12, 4052 Basel, Switzerland Listed on SIX Swiss Exchange NON-LISTED GROUP COMPANIES Valor number 1228 007 The Group’s Headquarters are at Institut Straumann AG in Basel. The subsidiaries of Straumann ISIN CH 0012 280 076 Holding AG are presented on p. 96 f. The subsidiary management is responsible for managing the local daily business. As laid down in the organizational regulations, the respective Regional Ticker symbol STMN Sales Head, the CFO and the General Counsel are usually members of the supervisory body of LEI number 50670046ML5FIM60Z37 the subsidiaries. Straumann Group products are sold through Institut Straumann AG, various distribution subsidiaries, and third-party distributors (see link to Worldwide locations on p. 214). On 31 December 2017, Straumann Holding AG directly or indirectly held 100% of the capital and voting rights in all consolidated Group companies with certain exceptions (see table below). In addition, Straumann Holding AG directly or indirectly held capital rights in the companies listed in the same table. Straumann Group 96 Corporate governance 2017 Annual Report PRINCIPAL GROUP COMPANIES (AS OF 31 DECEMBER, 2017) Name Location Share capital Straumann Holding AG Basel, Switzerland CHF 1 587 898 Institut Straumann AG Basel, Switzerland CHF 100 000 Straumann Italia Srl Milan, Italy EUR 270 000 Instradent Italia Srl Milan, Italy EUR 10 000 Equinox Implants LLP Mumbai, India INR 170 000 000 Equinox Dental AG Basel, Switzerland CHF 100 000 Straumann Villeret SA Villeret, Switzerland CHF 9 000 000 Instradent AG Basel, Switzerland CHF 100 000 Straumann Middle East PJS Tehran, Republic of Iran IRR 40 000 000 Straumann Holding Deutschland GmbH Freiburg, Germany EUR 25 000 Straumann GmbH Freiburg, Germany EUR 200 000 etkon GmbH Gräfelfing, Germany EUR 326 000 Instradent Deutschland GmbH Freiburg, Germany EUR 40 000 Medentika GmbH (51%) Hügelsheim, Germany EUR 275 000 Medentika CNC GmbH (48%) Hügelsheim, Germany EUR 200 000 Straumann GmbH Vienna, Austria EUR 40 000 Straumann Ltd Crawley, UK GBP 300 000 Instradent Ltd Crawley, UK GBP 1 000 Manohay Dental SA Madrid, Spain EUR 60 101 Instradent Iberia SL Madrid, Spain EUR 3 000 Straumann SAS. Marne-La-Vallée, France EUR 192 000 Straumann AB Mölndal, Sweden SEK 100 000 Biora AB Malmö, Sweden SEK 950 152 Straumann AS Oslo, Norway NOK 1 000 000 Straumann Danmark Aps Brøndby, Denmark DKK 125 000 Straumann Oy Helsinki, Finland EUR 32 000 Straumann SA/NV Zaventem, Belgium EUR 2 081 620 Straumann BV Ijsselstein, Netherlands EUR 18 151 JJGC Indústria e Comércio de Materiais Dentários S.A. (Neodent) Curitiba, Brazil BRL 1 127 621 860 Straumann LLC Moscow, Russia RUB 21 000 000 Straumann Group 97 Corporate governance 2017 Annual Report Name Location Share capital Instradent LLC Moscow, Russia RUB 17 250 000 Straumann SRO Prague, Czech Republic CZK 200 000 Instradent SRO Prague, Czech Republic CZK 100 000 Straumann Manufacturing, Inc Andover, USA USD 1 Straumann USA, LLC Andover, USA USD 1 ClearCorrect Holdings, Inc . Round Rock, USA USD 4 424 ClearCorrect Operating LLC Round Rock, USA USD 1 000 Loop Digital Soultions, LLC Lincoln, USA 0 Instradent USA, Inc. Andover, USA USD 2 000 000 Straumann Canada Ltd Burlington, Canada CAD 100 000 Instradent Canada Ltd Burlington, Canada CAD 500 001 Dental Wings Inc. Montreal, Canada CAD 1 648 923 Dental Wings GmbH Chemnitz, Germany EUR 25 000 Dental Wings Hong Kong Ltd Hong Kong HKD 3 916 063 Shenzhen Dental Wings Company Limited (90%) Shenzhen, China CNY 1 439 602 Manohay Colombia SAS Bogotá, Colombia COP 7 100 062 213 Manohay Argentina SA Buenos Aires, Argentina ARS 9 000 000 Manohay Mexico SA de CV México DF, Mexico MXN 38 392 615 Manohay Chile SPA Santiago, Chile CLP 464 515 950 Straumann Group Peru SA Lima, Peru PEN 1 702 500 Straumann Singapore Pte Ltd Singapore SGD 10 000 Straumann Pty Ltd Victoria, Australia AUD 100 Straumann New Zealand Ltd Napier, New Zealand 0 Straumann Japan KK Tokyo, Japan JPY 10 000 000 etkon Japan KK Shibayama, Japan JPY 10 000 000 Straumann (Beijing) Medical Device Trading Co Ltd Beijing, China CNY 40 000 000 Straumann Dental Korea Inc Seoul, Republic of Korea KRW 2 300 000 000 Straumann Dental India Pvt Ltd Gurgaon, India INR 1 316 000 000 STM Digital Dentistry Holding Ltd (49%) Hong Kong HKD 780 etkon Dental (Shenzen) Company Ltd (49%) Shenzen, China USD 4 488 598 Straumann Group (Thailand) Limited Bangkok, Thailand Baht 18 000 000 Straumann Group 98 Corporate governance 2017 Annual Report CHANGES IN 2017 AND EARLY 2018 In January 2017, the Group gained full ownership of the distribution company Instradent Deutschland GmbH by purchasing the 49% stake held by the founders of Medentika. At the same time, an agreement with the minority shareholders changed Straumann’s 51% stake in Medentika GmbH into a controlling interest. As a result, Straumann consolidated Medentika fully in its financial statements as of 1 January 2017. In August 2017, Straumann acquired ClearCorrect Holdings Inc., a US-based provider of clear-aligner tooth-correction solutions. In October 2017, Straumann gained full ownership of the Canada-based digital dentistry company Dental Wings Inc. In November 2017, Straumann Manufacturing Inc. fully acquired Loop Digital Solutions LLC, a small software developer in the US. The following distribution companies were established in 2017/early 2018: Straumann Middle East, Iran, Straumann Group Peru S.A., and Straumann Thailand. Early in 2018, Straumann’s South African distributor was acquired and renamed Straumann Group South Africa (Pty) Ltd. In November 2017, the Group announced the acquisition of a 70% stake in its Turkish distribution company Batigroup, which will be completed in the first quarter of 2018. In December 2017, the Group announced the acquisition of Same Day Solutions (SDS), a dental distribution company in Portugal. The acquisition will be closed in the first quarter of 2018. To reduce complexity and to increase efficiency, the Group began to merge its Instradent and Straumann companies. The completion of this initiative is scheduled for mid-2018, after which Instradent AG, Switzerland will be the sole remaining Instradent company. PARTICIPATION IN OTHER COMPANIES The Group invested
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