The Committees of the Board
In line with the Dutch Corporate Governance Code, the Board has created three standing committees: the audit committee, the remuneration committee and the nominations committee. The committees are appointed by the board from among the non-executive directors.
The Remuneration Committee
The remuneration committee comprises of three non-executive Board members, meets as necessary and prepares proposals concerning remuneration policies for the executive members of the Board and the remuneration for individual members of the Board. The committee is chaired by Marius van Eibergen Santhagens and the other member is Terry Roydon.
The Nomination Committee
The nomination committee prepares selection criteria and appointment procedures for members of the Board and comprises two non-executive directors, Terry Roydon (Chairman) and Marius van Eibergen Santhagens.
The Audit Committee
The Audit Committee considers the appointment of the external auditors and assesses their independence each year, supervises and monitors and advises the Board on risk management and control systems and supervises the implementation of codes of conduct. In addition, the audit committee supervises the Company’s submission of financial information; agrees the nature and scope of the audit and review as well as reviewing the quality control procedures; assesses the scope and effectiveness of the system established by management to identify, assess, manage and monitor financial and non-financial risks; and reviews and makes recommendations in relation to the interim and annual financial statements prior to submission to the Board. The committee meets as necessary and comprises two non-executive directors, Terry Roydon (Chairman) and Marius van Eibergen Santhagens.