Dutch Corporate Governance Code

NIBC voluntarily supports and applies the principles of the Dutch Corporate Governance Code (‘Code’). NIBC only partly deviates from best practices and principles as laid out in the Code. The main deviation is that NIBC does not comply with best practice provision III.2.1, which provides that the members of a supervisory board should be independent, except for one member. At this point the Code deviates from the policy of the Dutch Central Bank that came into force in 2012. It is policy of the Dutch Central Bank that at least 50% of the members of the Supervisory Board should be formally independent members according to the criteria of provision III.2.1. of the Code. Based on this new policy NIBC made an assessment of the independence of the members of our Supervisory Board. Five of the Supervisory Board members qualify as formally independent.

Here you can find a detailed overview of NIBC’s compliance with the principles of the Code, including the motivation for the above and other minor deviations, as well as the full text of the Corporate Governance Code.