The Governing Board of the Foundation

Article 6 - Constitution and composition

The Governing Board of the Foundation (hereafter "the Board") is made up of at least seven members.
The Board shall be completed and renewed by co-optation. Its members are appointed for a period of three years and are immediately re-eligible.
The Board can invite any organization, be it public or private, national or international, interested in the aims of the Foundation or pursuing similar goals, to designate a representative to sit on the Board.
The first members of the Board are however appointed by the Founder.

Article 7 - Organization

The Board shall elect from its members a President and a Vice President. In addition, it shall elect a Secretary and a Treasurer who can be chosen from outside the Board.
The first President, Vice President, Secretary and Treasurer are however appointed by the Founder.

At the beginning of each accounting year, the Treasurer will present a report on the activities of the Foundation and a budget that will be submitted for approval of the Board, in addition to a statement of accounts and of the operating account.

The Board will meet upon written notification by its President or upon request of at least three (3) members, either from the Board or from the Executive Committee, as well as upon request of the Auditing Authority.
The Board will meet as often as the activities of the Foundation make it necessary, but at least once per year, upon written notification sent at least 20 days in advance, except in the case of emergency.

The Board will take its decisions by majority vote of the members present. The decisions of the Board are only valid if the majority of its members are present including, in all cases, the President or his substitute. In the case of a tie vote, the vote of the President will be decisive.

If all the members present accept, some members of the Board can verbally participate in a Board meeting by means of telephone or of video conference.

In case of necessity, and if no member objects, the Board can make decision by means of a circular letter.

Article 8 - Duties

The Foundation is administered under the high authority of the Board. The Board has unlimited power to manage the Foundation and to achieve its goals.
It, in particular, assumes the following tasks:

- It names and dismisses the members of the Governing Board of the Foundation, of the Executive Committee, and of the Auditing Authority.

- It decides the use and the distribution of the capital and revenues of the Foundation.

- It annually approves the budget, the balance sheet and the operating account.

- It is entitled to sign contracts with specialized Organizations for particular services.

- It shall notify the supervisory authority of any modification to the present statutes.

The Governing Board of the Foundation can set up representations outside of Switzerland in the appropriate legal form which will permit the attainment of the goals defined in article 3 here above.