From time to time, we receive inquiries regarding corporate governance and our shareholders´ rights. We are pleased to provide answers to these Frequently Asked Questions below.
What information does Logitech make available to investors?
We post and maintain an archive of our earnings and other press releases, annual and quarterly reports, earnings release schedule, information regarding annual general meetings, further information on corporate governance and other information regarding Logitech on our Investor Relations website at Investor Relations. The information we post includes filings we make with the U.S. Securities and Exchange Commission, our annual report and invitation and proxy statement related to our annual shareholders meeting, press releases we publish upon occurrence of significant events within Logitech, and reports of transactions in our securities by our executive officers and Board members.
Where can I find Logitech earnings releases and public reports?
You can find our earnings releases, quarterly reports, and annual reports in the Investor Relations section of our website. Our quarterly and annual report documents are also available on the SEC's website.
What is Logitech's fiscal year?
Logitech's fiscal year is April 1 to March 31.
When and where was Logitech incorporated?
Logitech was incorporated in 1981 in Switzerland.
How many employees does Logitech have?
As of March 31, 2012, Logitech had approximately 9,000 employees worldwide.
When and where is Logitech's annual shareholders meeting?
We hold our annual shareholders meeting in September in Switzerland.
What Logitech securities are publicly traded and where?
Our registered shares trade on the SIX Swiss Exchange under the symbol LOGN and on the Nasdaq under the symbol LOGI.
How many votes does each share have?
Each one of our registered shares carries the right to one vote.
Has Logitech split its shares?
Yes. Logitech's share and ADR splits, beginning with the most recent, were:
2-for-1 split of shares and ADRs, effective July 14, 2006
2-for-1 split of shares and ADRs, effective June 30, 2005
10-for-1 split of shares, effective August 2, 2001
2-for-1 split of shares and ADRs, effective July 5, 2000
Does Logitech have any anti-takeover measures in place?
No. Logitech has no specific protection against hostile takeovers in place. Under the Swiss Stock Exchange Law, an investor who acquires 33 1/3% of all voting rights must submit a take-over offer for all shares outstanding. Logitech has not elected to change or opt-out of this rule.
Where can I find information on Logitech's directors and executive officers?
You can learn about our directors and executive officers in the Investor Relations section of our website.
What is the size of Logitech's board of directors?
There are nine members on our board of directors.
How many members of Logitech's board of directors are independent?
Seven members of our board of directors are independent of Logitech.
How many board committees are in place to assist the Logitech board, and what are they?
There are four standing board committees:
Committee for Board Compensation
Information about these committees is available in the Investor Relations section of our website.
Are all members of your Audit Committee independent?
Are all members of your Compensation Committee independent?
Are Logitech's Chairman and Chief Executive Officer the same person?
Yes. Our chairman is Guerrino De Luca and he is the acting president and chief executive officer. You can read his biography in the Investor Relations section of our website.
Does Logitech have a code of ethics?
Yes. Logitech has a code of ethics that applies to all of its employees. You can find a copy of our code of ethics in the Investor Relations section of our website.
What is Logitech doing to keep lead and other hazardous substances out of its products?
Logitech is committed to compliance with all applicable laws and regulations, including the restriction of hazardous substances, such as lead, in its products. Logitech has had a program to help ensure our products are lead-free for many years. This program extends to Logitech's own manufacturing processes, as well as to Logitech's suppliers. We use third-party testing for banned substances and also have our own testing capability for components and products supplied to us. We are constantly looking for ways to make our program more effective and are driving improvements throughout our supply chain
Does Logitech issue equity compensation to its employees?
Yes. Logitech believes that equity compensation is an important part of attracting and retaining high-caliber employees. It also aligns the interests of management and the directors of the Company with the interests of the shareholders. Accordingly, Logitech maintains a stock incentive plan for its employees.
What percentage of equity compensation grants in the last year were issued to company executives?
Approximately 16% of our equity compensation grants in fiscal year 2012 were issued to a total of six Logitech executives.
Who is Logitech's auditor and how long has that firm been the company's auditor?
PricewaterhouseCoopers (PwC) is the auditor for the Logitech consolidated group, and for Logitech International S.A., the Logitech Swiss holding company. PwC has been our auditor since 1988. The choice of auditor is subject to vote by our shareholders at our annual meeting.
What accounting principles does Logitech use for its financial statements?
We report our financial results in U.S. dollars using generally accepted accounting principles in the United States. Under Swiss law, we also report the financial results of Logitech International S.A., the Logitech holding company, using generally accepted accounting principles in Switzerland.