The Group Executive Board manages the company and determines the vision and the ensuing mission, strategy and objectives of the company. The Group Executive Board consists of two members and the Chairman. The Chairman of the Group Executive Board has final responsibility for the entire company. The Group Executive Board is responsible for transparent governance within the company. The executive rules were prepared and approved by the shareholder for this purpose. In fulfilling its tasks, the Group Executive Board focuses on the company’s interests. The Chairman of the Group Executive Board frequently provides information and tools to the shareholder and the Supervisory Board as required for adequate fulfilment of their tasks.

The Chairman of the Group Executive Board annually reports to the General Meeting of Shareholders on the results of the past reporting year.

The Executive Boards of the operating companies are responsible for defining and executing the strategies of their respective operating companies. The responsibility for the management of and the operational decisions in the operating companies are also allocated to the statutory board members of the operating companies.

Appointment and remuneration of the Chairman of the Group Executive Board

The shareholder appoints the members of the Executive Board. The current Chairman of the company’s Executive Board is Mr. G.P. Sanderink. He was appointed as the Chairman as per 29 October 2010. He is also the CEO of Oranjewoud NV. The shareholder determines the remuneration of the members of the Board of Directors based on an advice issued by the Supervisory Board.