Members of the
Board of Directors
Information on the members of the Board of Directors and their other functions and business interests as at 31 December 2025 is provided below. Article 31 of the Articles of Incorporation1 regulates the number of other functions permitted.
Dr. Pietro Supino1
Switzerland and Italy, 1965 | |
Position | Chairman of the Board of Directors and Publisher |
Other functions | Companies and Participations of TX Group |
Edita SA, Member of the Board of Directors | |
JobCloud AG, Member of the Board of Directors | |
SMG Swiss Marketplace Group AG, Member of the Board of Directors | |
Various Group Companies, Chairman of the Board of Directors | |
Outside TX Group | |
Columbia University Graduate School of Journalism / Member of the Board of Visitors since 2012 | |
SwissMediaForum AG, Member of the Board of Directors | |
Career | Family Office Bank Private Client Partners / Private Client Bank, Founding Partner (1998–2007) |
Bär & Karrer AG, Attorney at Law (1996-1998) | |
McKinsey & Company Inc., Management Consultant (1994-1995) | |
Education | Columbia University Graduate School of Journalism in New York (2006) |
Doctorate from the University of St. Gallen (1989-1994) | |
Master’s from the London School of Economics and Political Science (1992-1993) | |
Admitted to the Zurich bar (1992) | |
Studied Law and Economics at the University of St. Gallen (1985-1989) | |
Independent? | No |
1Pietro Supino is a member of the founding family, which is linked by a shareholders’ agreement and jointly holds a majority stake in TX Group AG.
Pascale Bruderer
Switzerland, 1977 | |
Position | Member of the Board of Directors and Member of the Compensation Committee |
Other functions | Companies of TX Group |
Various Tamedia companies, Member of the Board of Directors, until October 2024 | |
Outside TX Group | |
ETH Board, Vice-president | |
Orell Füssli AG, Member of the Board of Directors | |
Galenica AG, Member of the Board of Directors | |
Career | Start-up Founder and Member of multiple Boards of Directors (since 2019) |
National Councillor (2002–2011), President of the National Council (2009/2010) and Member of the Council of States (2011–2019) | |
Cancer association Krebsliga Aargau, Managing Director (2009–2011) | |
Freelance Communications Consultant (from 2008) | |
Education | lic. phil. Master’s degree in Political Science from the University of Zurich (2005) |
Independent? | Yes |
Dr. Stephanie Caspar
Germany, 1973 | |
Position | Member of the Board of Directors and Member of the Audit Committee |
Other functions | Outside TX Group |
Summa Equity AB, Partner | |
Tibber AS, Member of the Supervisory Board | |
Velsera Inc, Chair of the Supervisory Board | |
Oda AS, Member of the Supervisory Board | |
Career | Axel Springer SE, various functions, Member of the Executive Board starting 2018 (2013–2022) |
Mirapodo GmbH (Otto Group), Founder and CEO (2009–2013) | |
ImmoScout24, Member of the Management Team, Head of UX (2008–2009) | |
eBay Inc., various functions (2003–2008) | |
McKinsey & Company Inc., Engagement Manager (1998–2003) | |
Education | Studied Business Administration at the University of Lüneberg |
Independent? | Yes |
Claudia Coninx-Kaczynski1
Switzerland, 1973 | |
Position | Member of the Board of Directors and Member of the Compensation Committee |
Other functions | Companies of TX Group |
20 Minuten, Member of the Board of Directors, until July 2024 | |
Outside TX Group | |
Forbo Holding AG, Member of the Board of Directors and Chair of the Personnel - and Nominations Committee and the Remuneration Committee | |
Swisscontent AG, Member of the Board of Directors | |
Career | TX Group AG (formerly Tamedia AG), Member of the Board of Directors (2013–2016) |
Implementation of various projects, including in relation to M&A for P.A. Media AG and Swisscontent AG (2011–2014) | |
Färbi Immobilien AG (later Rietpark Immobilien AG), General Manager (2006–2011) | |
Education | Master of Law from the London School of Economics and Political Science (2000–2001) |
Studied Law (lic. Iur) at the University of Zurich (1994–1999) | |
Independent? | No |
1Claudia Coninx-Kaczynski is a member of the founding family, which is linked by a shareholders’ agreement and jointly holds a majority stake in TX Group AG.
Prof. Miriam Meckel
Germany, 1967 | |
Position | Member of the Board of Directors and member of the Audit Committee |
Other functions | Companies of TX Group |
Various Tamedia companies, Member of the Board of Directors, until October 2024 | |
Outside TX Group | |
Professor of Communication Management at the University of St. Gallen | |
Co-founder and shareholder of 'ada Learning' | |
Career | Visiting Professor, Fordham University, New York (2021) |
Editor-in-chief and publisher of WirtschaftsWoche at Handelsblatt Media Group (2014-2019) | |
Member of the Supervisory Board of SES Astra, Luxembourg (2012-2014) | |
Member of the Supervisory Board of Commerzbank International, Luxembourg (2010-2014) | |
Faculty Fellow, Berkman Klein Center for Internet & Society (2008-2014) | |
Visiting Professor, University of Vienna (2014) | |
Visiting Professor at Singapore Management University (2012-2013) | |
Visiting Professor, University of Neuchâtel (2008-2009) | |
State Secretary and Government Spokesperson for the Minister President of the State of North Rhine-Westphalia (2000-2005) | |
Professor at the University of Münster (1996-2000) | |
Television journalist at VOX, RTL, and ARD (1990-1996) | |
Education | Studied journalism and communication studies, sinology, political science, and law in Münster and Taipei. |
Doctorate in Communication Studies in Münster (1994) | |
Independent? | Yes |
Sverre Munck
Norway, 1953 | |
Position | Member of the Board of Directors and Chairman of the Audit Committee |
Other functions | Companies of TX Group |
Various Tamedia companies, Member of the Board of Directors, until October 2024 | |
Outside TX Group | |
Bio-Me AS, Member of the Board of Directors | |
Foodspace AS, Chairman of the Board of Directors | |
Career | Schibsted ASA, in various management positions (1994-2013) |
Loki AS, Member of the Management Board (1987-1994) | |
McKinsey & Company Inc., Consultant (1984-1987) | |
Norwegian Ministry of Finance (1983-1984) | |
Education | Received his PhD from Stanford University (1983) |
Studied Economics at Yale University | |
Independent? | Yes |
Konstantin Richter1
Germany, 1971 | |
Position | Member of the Board of Directors and Member of the Audit Committee |
Other functions | Companies of TX Group |
Goldbach Group AG, Member of the Board of Directors, until October 2024 | |
Various Tamedia companies, Member of the Board of Directors, until October 2024 | |
Outside TX Group | |
Freelance author and journalist | |
Career | North & South magazine (New Zealand), Publisher (2020–2023) |
Rogner & Bernhard publishing company in Hamburg and Berlin, Co-Managing Director (2004-2005) | |
Wall Street Journal in Brussels, Staff Reporter (1999-2001) | |
Columbia Journalism Review in New York, Editorial Assistant (1997-1998) | |
Education | Master’s degree from the Columbia University Graduate School of Journalism in New York (1996-1997) |
BA in English Literature and Philosophy from Edinburgh University (1992-1996) | |
Awards | German Reporter Prize for an article in Die Zeit (2011) |
Publications | Author of various books |
Independent? | No |
1Konstantin Richter is a member of the founding family, which is linked by a shareholders’ agreement and jointly holds a majority stake in TX Group AG.
Election and term of office
The Board of Directors comprises at least five members who are individually elected by the Annual General Meeting for a term of office of one financial year. Their term of office expires on the date of the Annual General Meeting for the last financial year of their tenure. If elections to replace directors are held during the designated term, the newly elected directors serve the remaining tenure of their predecessors. The Annual General Meeting also elects the Chairman of the Board of Directors. Otherwise, the Board of Directors constitutes itself.
Internal organisation
The composition of the Board of Directors and the affiliation of its individual members to the committees are shown in the table below.
Name | Function | Member since | Term of office 1 | Audit Committee | Compensation Committee |
Pietro Supino | Chairman | 1991 | 2026 | ||
Pascale Bruderer | Member | 2020 | 2026 | M | |
Stephanie Caspar | Member | 2023 | 2026 | C | |
Claudia Coninx-Kaczynski | Member | 2023 | 2026 | M | |
Miriam Meckel | Member | 2025 | 2026 | M | |
Sverre Munck | Member | 2018 | 2026 | C | |
Konstantin Richter | Member | 2004 | 2026 | M | |
C: Committee chairman | |||||
M: Member |
1The term of office of all members of the Board of Directors expire at the next Annual General Meeting on 10 April 2026.
Competencies
As the supreme executive body, the Board of Directors of TX Group decides on all matters not delegated by law, the Articles of Incorporation or the Organisational Regulations to any other corporate body. Its key responsibilities include defining and managing the Groupʼs strategic focus, guiding principles and organisational framework as well as exercising discretionary power. The Board of Directors reviews TX Groupʼs fundamental plans and objectives and identifies external risks and opportunities. The risks are explained in Note 3.4 of the consolidated financial statements (page 153). Based on the provisions of law as well as the Articles of Incorporation of TX Group AG, the Board of Directors has issued organisational regulations for TX Group and its investments in companies. These regulations are available to view online at www.tx.group1.
A fundamental distinction is made between the media companies (20 Minuten, Goldbach and Tamedia) and the portfolio that comprises all other assets. Operational management of the media companies is the domain of the Chief Executive Officers (CEOs) of 20 Minuten, Goldbach and Tamedia, who, together with their respective Management Boards, are responsible for results. The Groupʼs Chief Operating Officer (COO) maintains oversight of the media companies and manages the central services department. The COOʼs responsibilities include developing the ownership strategy for the media companies on behalf of the Board of Directors and implementing decisions taken by the Board of Directors. The Groupʼs Chief Portfolio Officer (CPO) maintains oversight of the portfolio of groups outside the media companies and is responsible, among other things, for developing the ownership strategy for the portfolio companies on behalf of the Board of Directors and implementing decisions taken by the Board of Directors.
The powers of the COO, the CEOs and the CPO within their respective areas of responsibility are based on a graded, two-step approach to decision-making. Human resources decisions related to people who are directly subordinate require the Chairmanʼs approval. The two-step approach also applies to appointments and dismissals of representatives of corporate bodies as well as to managerial promotions. Organisational changes at the highest management level require the approval of the Board of Directors, with CEOs first having to obtain consent from the COO. Financial undertakings worth over CHF 2 million require the Chairmanʼs approval, while amounts in excess of CHF 5 million require approval from the Board of Directors. It is possible to deviate from these rules in emergency situations where TX Group or its investments are at significant risk.
The Board of Directors is also responsible for supervising and monitoring the Executive Management. The COO, the CEOs and the CPO inform the Board of Directors about the course of business and the planned activities of the business units/segments at its regular and at its extraordinary meetings. These meetings are attended by members of the Executive Management as well as managers for the business concerning them. The entire Board of Directors is informed by means of monthly written reports about the consolidated monthly financial statements, the course of business of the individual business units and other relevant matters. Every quarter, the entire Board of Directors is informed in writing about the change in market share, and every six months, the annual and semi-annual financial statements are explained in a report. The COO, the CEOs and the CPO also inform the Chairman of the Board of Directors on an ongoing basis about events of particular importance.
Passing resolutions
The Board of Directors constitutes a quorum when the majority of its members are present. It takes its decisions by a majority of the votes cast. In the event of a tied vote, the Chairman has the casting vote. There are no statutory quorums for resolutions. Resolutions may also be passed by circular vote.
Meetings
The Board of Directors meets as often as business requires or if a meeting is requested by a member, but at least four times a year. In the reporting year, the Board of Directors and its committees held the following meetings.
Number of meetings | Average duration (hours) | |
Board of Directors | 14 1 | 6.05 |
Compensation Committee | 4 2 | 3.20 |
Audit Committee | 6 3 | 2.00 |
1of which a 3-day retreat and eight video conferences
2of which one video conference
3of which six video conferences
Committees
In addition to the committees described below, the Board of Directors may form other committees for specific functions. Members are appointed to committees in conjunction with the constitution of the Board of Directors and according to the same procedure. Generally, these committees do not pass any binding resolutions, but instead report to the Board of Directors as a whole, submit proposals for resolutions and guidelines when appropriate and provide the Executive Management with the necessary support for the implementation of such.
The following permanent committees currently exist:
- Compensation Committee
- Audit Committee
The committees must be made up of members of the Board of Directors and make their agendas and meeting minutes available to the entire Board of Directors. The Chairman of each committee notifies the entire Board of Directors verbally of the results of such meetings.
Compensation Committee
The Compensation Committee (CC) supports the Board of Directors in determining the compensation systems for the members of the Executive Management of TX Group AG. In addition, it deals with the general compensation principles of the Group, ensures compliance with regulatory requirements and monitors the preparation of the compensation report.
The committee consists of at least three members of the Board of Directors, who are elected by the Annual General Meeting. The Board of Directors appoints the Chairman of the Committee.
The CC meets at least twice a year or as required. The Chief People Management Officer (CPMO) attends the meetings in an advisory capacity. The Chief Financial Officer (CFO) also participates in decisions regarding the determination of variable compensation targets and their achievement, as well as the approval of the compensation report. The Chairman of the CC may invite additional persons to meetings or presentations. The Chairman of the Board of Directors, if not a member of the CC, participates in the meetings in an advisory capacity.
Audit Committee
The Audit Committee (AC) supports the Board of Directors in monitoring financial reporting, the internal control system and financial risk management. It ensures accurate and timely financial reporting, reviews the effectiveness of the internal control system and evaluates the financial risks of TX Group AG. In addition, it oversees liquidity, currency, interest rate, and credit risks and regularly reports to the Board of Directors. The AC represents the Board of Directors in dealings with the statutory auditors, reviews their qualifications and independence, discusses the audit plan and significant findings, and submits proposals to the Board of Directors regarding the appointment or reappointment of the auditors.
The AC consists of at least three independent members of the Board of Directors. The Board of Directors appoints the Chairman of the Committee.
The AC meets at least twice a year or as required. The Chief Financial Officer (CFO) participates in the meetings in an advisory capacity unless the Chairman of the AC decides otherwise. Additionally, the Chairman may invite representatives of the audit firm and other persons to meetings or presentations.