Triodos Bank’s Executive Board provides a perspective on the wider world it operates in, its impact and activity in 2016 and its prospects for the future.
Independence and Self-evaluation
The composition of the Board was such that members were able to act critically and independently of one another, the Executive Board and any particular interest. The Supervisory Board complies with the independence criteria of the Dutch Corporate Governance Code. Aart de Geus formally deviates from one of the independence criteria (article III.2.2) of the Dutch Corporate Governance Code because a family member is a Triodos Bank co-worker, although not in a management position.
Conflicts of interest
In accordance with the requirements of the Dutch Corporate Governance Code, the Supervisory Board has internal rules in place that govern any actual or potential conflicts of interest of Board members. No conflicts of interest occurred during 2016.
As part of the Supervisory Board’s permanent education programme, it organises annual meetings with both internal and external experts, with a view to keeping up-to date with developments in society and the sectors that have an impact on Triodos Bank’s operations. Please see the report of the Nomination and Compensation Committee for more details.
The results of the 2015 self-evaluation were discussed by the Supervisory Board and recommendations have been implemented as a result. The Supervisory Board’s annual self-evaluation of the Supervisory Board as a whole, its individual members and its committees took place in the last quarter of 2016. The results of the evaluations are discussion items for the Supervisory Board in February 2017.
The Executive Board members reflected on their personal key priorities for 2016 and 2017 and shared them with the full Supervisory Board. These priorities will be evaluated by the Supervisory Board early in 2017.