Management Board
The Management Board is responsible for managing the company, which means that it is responsible for achieving the corporate objectives, setting corporate strategy and policy, and for the ensuing trend inresults. The Management Board is accountable for this to the Supervisory Board, and the Supervisory Board is in turn accountable to the General Meeting.
The Management Board consists of at least two directors who are appointed by the Supervisory Board after first receiving the advice of the works council and notifying the General Meeting. The Supervisory Board can also appoint one of the directors as chairman of the Management Board, which has been done in Corio’s case. The Supervisory Board determines the number of directors. Members of the Management Board are appointed for a maximum period of four years, their term of office expiring on the day of the General Meeting four years after the year in which they were appointed, unless they step down earlier. Since 2008, the Management Board has consisted of three members, namely Mr. G. Groener (CEO), Mr. J. Haars (CFO), and Mr. F. Fontaine. On 4 December 2009 Mr. Haars indicated his wish to retire. To that end Mr. Haars will resign as CFO at the General Meeting on 23 April 2010. Corio started a search for a successor immediately following the announcement and is looking to make an appointment as soon as possible.
The company has a policy for the remuneration of its Management Board, which was adopted by the General Meeting held on 29 April 2008 at the proposal of the Supervisory Board. For further information, please refer to the remuneration report on 2009 elsewhere in this annual report.
Conflicts of interest between the company and members of the Management Board are avoided as much as possible. No such conflicts arose during 2009.
Source: Annual Report 2009, Chapter Corporate governance, page 78 (PDF, 66 kB)
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