Meetings of the Supervisory Board

The Supervisory Board met six times in 2011. With the exception of Mr Eguiguren at the November meeting, and Mr Frank at the December meeting, all board members attended these meetings.

All meetings were held jointly with the Executive Board. However the Supervisory Board started to meet informally, without the Executive Board – as a result of the evaluation that follows below – before the beginning of its meetings to discuss whether certain agenda items needed a specific approach and/or priority.

Throughout the year, the Chair of the Supervisory Board was in close contact with the Chief Executive Officer, and the Chair of the Audit and Risk Committee was in close contact with the Chief Financial Officer. Most Supervisory Board meetings were preceded by a presentation by a senior manager from the bank about their area of responsibility, followed by a discussion. This allowed the Board to gain a deeper insight into the different activities of Triodos Bank and to get to know its senior management better.

A thematic meeting was also held with the Board of SAAT, the Executive Board and the business unit’s Managing Directors, at which all Supervisory Board members were present, to discuss Triodos Bank’s future positioning in the area of culture and education. Various members of the Supervisory Board also attended local client and/or Depository Receipt Holders meetings in the United Kingdom, Belgium, The Netherlands, and Spain. Supervisory Board members who live in the countries, in which Triodos Bank operates, also maintained informal contacts with local Managing Directors and senior co-workers. Branch visits began in November 2011 with a visit to the Dutch branch. The UK will follow in 2012.

In addition, the external auditor attended the meeting at which the annual report was discussed and agreed.