Independence and self-evaluation
Until the General Meeting of 23 May 2014, all members of the Supervisory Board were “independent” from Triodos Bank under the terms of the Dutch Corporate Governance Code. At that meeting, the composition of the Supervisory Board changed; since then all members of the Supervisory Board comply with the independence criteria of the Dutch Corporate Governance Code, however Aart De Geus does not because a family member is a co-worker at Triodos Bank. The composition of the Board was such that members were able to act critically and independently of one another, the Executive Board and any particular interest.
Conflicts of interest
In accordance with the requirements of the Dutch Corporate Governance Code, the Supervisory Board has internal rules in place that govern any actual or potential conflicts of interest of Board members. No conflicts of interest occurred during 2014.
As part of the Board’s permanent education programme, it organises annual meetings with external experts, with a view to keeping up-to-date with developments in society and the sectors that have an impact on Triodos Bank’s operations. Please see the report of the for more details.
The results of the 2013 self-evaluation were discussed in the Supervisory Board, and recommendations implemented as a result. The Supervisory Board’s annual self-evaluation of the Supervisory Board as a whole, its individual members and its committees took place at the end of 2014 through interviews by the Chair with each Supervisory Board member. The results of the evaluation were discussed by the Supervisory Board at the end of the year, and confirmed that all required skills and capacities are present in the Supervisory Board.
The Executive Board members shared their personal key priorities for 2015 with the Supervisory Board. This will be evaluated in early 2015.