The Supervisory Board supervises the policies of the Executive Board and the general course of affairs of Wessanen and advises the Executive Board on these matters. It also supervises and advises the Executive Board in performing its management tasks and setting the direction of the Group’s business.
In doing so, the Board is guided by the interests of the Company and the relevant interests of the Company’s stakeholders. Major decisions and the Group’s strategy are discussed with the Supervisory Board.
The Board, while retaining overall responsibility, has delegated certain tasks to three Committees ( Audit, SARC, NFSC). The main purpose of these Committees is to prepare the foundations that support the decision-making processes of the Board.
The Supervisory Board is a separate body that is independent of the Executive Board.
It considers all of its members to be independent as defined in the By-Laws of the Supervisory Board and in the Code.
Its By-Laws stipulate the qualification requirements for individual members of the Supervisory Board and the requirements for the composition of the Supervisory Board.
Members of the Supervisory Board are appointed for a period of four years by the AGM. The AGM also determines the remuneration of the Supervisory Board members. Supervisory Board members may in principle serve a maximum of three terms of four years each on the Supervisory Board. The rotation plan reflects when individual members were appointed.
The full procedure of appointment and dismissal is set out in article 23 of Wessanen's Articles of Association.