Corporate Governance
The Board of Supervisory Directors and the Management of HES Beheer attach considerable importance to good corporate governance. They endorse the view that good entrepreneurship, including transparent action with integrity by the management, as well as good supervision of this by the Board of Supervisory Directors, are essential conditions for instilling confidence in the management and supervision of this by stakeholders. At HES Beheer, the assurances for good corporate governance are found primarily in a culture distinguished by professionalism and common
On 10 December 2008, the Corporate Governance Code Monitoring Commission (the Frijns Commission) presented the updated Code. This Commission amended the Code in response to a number of national and international developments since the introduction of the original Code in December 2003. The main changes concern the remuneration of managers, risk management and the risk paragraph, the internal audit function, corporate social responsibility, the shareholders and the general meeting of shareholders and the composition of the Board of Supervisory Directors.
The General Administrative Order pursuant to Article 2:391(5) of the Netherlands Civil Code, which designates the updated Code as the Code with which companies must comply, was published on 21 December 2009. The Order is effective for annual reports on financial years commencing on or after 1 January 2009. The Order took effect on 1 January 2010.
The new Code was the subject of discussion on several occasions at meetings with our Board of Supervisory Directors. This led to a new document with the full text of the new Code, with an indication for each best-practice provision as to whether or not HES Beheer applies or plans to apply that provision.
For the complete text of the corporate governance code we refer to the Dutch version of this website.