Role of the committees within the supervisory board
Audit and risk committee
The audit and risk committee is an advisory subcommittee of the supervisory board, composed of at least three members of the supervisory board. At least one member of the audit and risk committee is an independent member of the supervisory board.
The audit and risk committee assists the supervisory board in the implementation of its supervisory and auditing responsibilities and makes recommendations on the following matters:
- Internal audit (risk management and compliance)
- Internal audit
- External audit
- Financial reporting
- Legal provisions and administrative procedures.
The Corporate Governance Charter provides further information on matters such as the composition, operation, tasks, reporting and evaluation of the audit and risk committee.
Appointment and remuneration committee
The appointment and remuneration committee is an advisory subcommittee of the supervisory board, composed of at least three members of the supervisory board, a majority of which must be independent members of this supervisory board.
The appointment and remuneration committee makes recommendations regarding the appointment and remuneration of members of the supervisory board and the management board, including the chairperson and the CEO.
In particular, the appointment and remuneration committee makes proposals to the supervisory board regarding the remuneration policy for members of the supervisory board and the management board, the annual evaluation of the management board’s performance and the realisation of the corporate strategy based on agreed performance criteria and objectives.
The appointment and remuneration committee develops plans for the proper monitoring of the members of the supervisory board and the management board.
The appointment and remuneration committee leads the appointment or reappointment process of the members of the supervisory board and the members of the management board.
The appointment and remuneration committee ensures that sufficient and regular attention is paid to the monitoring of the members of the supervisory board and the management board. The appointment and remuneration committee also ensures that appropriate programmes are in place for talent development and the promotion of diversity in leadership.
The Corporate Governance Charter provides further information on matters such as the composition, operation, tasks, reporting and evaluation of the appointment and remuneration committee.
Investment committee
The investment committee is an advisory subcommittee of the supervisory board, composed of at least two members of the supervisory board. At least one member of the investment committee is an independent member of the supervisory board.
The investment committee prepares, among other things, the investment and divestment files for the supervisory board and advises the supervisory board and the management board on the acquisition and disposal of real estate and/or acquisitions of real estate companies.
The Corporate Governance Charter provides further information on matters such as the composition, operation, tasks, reporting and evaluation of the investment committee.