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Changes to BCV's Board of Directors

The Vaud Cantonal Government has appointed Paul-André Sanglard as Vice Chairman of BCV’s Board of Directors. Mr. Sanglard, who is already a Board member, will take up his new position on 21 April 2016. In addition, at the Annual General Meeting on 21 April 2016 the Board of Directors will submit a proposal to appoint Jack Clemons to replace Pierre Lamunière, who will step down from the Board on that same date.  


BCV’s Management welcomes Paul-André Sanglard’s appointment as Vice Chairman, which comes as current Vice Chairman Stephan A.J. Bachmann reaches the end of his term, as previously announced. The Board of Directors put forth Mr. Sanglard’s name to the Vaud Cantonal Government in view of his many years of experience and his wide-ranging expertise in banking and finance.

Mr. Sanglard, born in 1950, holds a PhD in economics from the University of Geneva. He works as a freelance economist and has held various public- and private-sector positions throughout his career. Mr. Sanglard is chairman of the boards of Banque Cantonale du Jura (until 28 April 2016) and Groupe Vaudoise Assurances. He is a Swiss citizen and currently lives in Porrentruy in Jura Canton.


New Board member: a career spanning both finance and industry

Jack Clemons, born in 1966, holds an MA from Cambridge University and an MBA from INSEAD. He started his career in auditing and subsequently became a partner at Deloitte. He then served as Chief Operating and Financial Officer for a pan-European internet group. In 2006 Mr. Clemons joined Lausanne-based Bata, a leading global manufacturer and retailer of footwear, as Chief Financial Officer; he was later appointed Chief Executive Officer, a position he held until 2015. His proven skills in auditing and corporate finance, combined with his experience at the head of a major global company, make him the ideal candidate to succeed Mr. Lamunière. A UK citizen, he is in the process of obtaining Swiss citizenship. He is married, has three children and currently lives in Arzier, Vaud. Mr. Clemons’ appointment will be submitted to shareholders for approval at the Annual General Meeting on 21 April 2016.


Outgoing Board members: passion and commitment

Stephan A.J. Bachmann’s extensive national and international auditing know-how, together with his rigor and leadership skills, have been major assets for BCV, both in his role as Vice Chairman and as Chair of the Audit Committee. As previously announced, he will be replaced as Chair of the Audit Committee by Peter Ochsner.  

Pierre Lamunière, a Board member and Chair of the Compensation, Promotions and Appointments Committee, has made an invaluable contribution to the Bank through his vision as the head of a company that has been successful both in Switzerland and abroad, his wide-ranging knowledge of the economy, and his unfailing commitment, efficiency and excellent communication skills.

Management would like to extend its warmest thanks to both Stephan A.J. Bachmann and Pierre Lamunière for the passion and commitment they have brought to the Board and the Bank since they became Board members in 2008.


Lausanne, Switzerland, 10 March 2016




Christian Jacot-Descombes, Press Officer
Tel.: + 41 21 212 28 61


Gregory Duong, Investor Relations Officer
Tel.: +41 21 212 20 71


Note to editors:

This press release is being issued outside the trading hours of the SIX Swiss Exchange in order to comply with the principles of ad hoc disclosure pursuant to the SIX listing rules.

The above text is a translation of the original French document; only the French text is authoritative.