Grontmij adheres, with very few exceptions, to the Dutch Corporate Governance Code. There is only a small number of best practices and guidelines where we (still) deviate.
As per 8 March 2012, Mr J.L. Schnoebelen resigned from the Executive Board. To avoid lengthy and costly legal proceedings, a settlement was agreed on the termination of the consulting agreement as well as differences regarding, amongst others, the operational management and strategy of the company. Based on this agreement Grontmij and Ginger S.A. paid an amount of € 2.7 million to Mr Schnoebelen and an entity controlled by Mr Schnoebelen.
II.2.13 f, g & h
Individual performance criteria are described in general terms but not fully disclosed as they contain sensitive information and could contain information of an otherwise confidential nature that Grontmij may not want to disclose.
Due to its limited size during 2012 and the fact that two new members are proposed for appointment in 2013, the Supervisory Board has not elected a vice chairman.
Every year and in consultation with the Supervisory Board, the Executive Board reviews the above deviations and determines, also in view of general market practice, whether any changes need to be made.
A copy of the full Code can be downloaded from the right side of this page.