The Supervisory Board supervises the Executive Board of the company and the general state of affairs of the Port of Rotterdam Authority and its affiliated businesses and advises the Executive Board. The Supervisory Board is guided by the interests of the company and its affiliated enterprise. The Supervisory Board takes into account the relevant interests of the company’s stakeholders (including the shareholders). The Supervisory Board is itself responsible for the quality of its performance. The Supervisory Board supervises and advises the Executive Board with regard to various topics:
- Realisation of the objectives of the Port Authority
- Strategy and risks attached to the business operations
- Set-up and operation of the internal risk management and control systems
- Financial reporting process
- Compliance with legislation and regulations
Composition, expertise and independence
The Supervisory Board profile describes the scope and composition of the Supervisory Board. This takes into account the nature of the business, its activities and the required expertise, experience and independence of the Supervisory Board members. The profile is assessed annually.
The most important aspects from the current profile:
- Background in business, preferably logistics and/or industry.
- Affinity with nautical-maritime matters.
- Affinity with corporate finance.
- Government-oriented (municipal, State, European Union).
- Orientation towards government aspects such as spatial planning, the environment and employment.
- Affinity with and attention for the social duties and responsibilities of the Port Authority.
More information about the profile of the Supervisory Board can be found in the Rules of the Supervisory Board (Appendix A).
The Supervisory Board has two committees: the Audit Committee and the Remuneration Committee. The committees have their own regulations. The regulations describe the rights and obligations of the committee and the best practices (duties, composition, meetings, etc).
The regulations of the Audit Committee and the Remuneration Committee are contained in the Rules of the Supervisory Board (Appendices C and D).
Appointment, reappointment, term, rotation
A Supervisory Board member is appointed for four years and can be eligible for reappointment. The term can never exceed 3 terms of 4 years, in other words, 12 years.
The rotation schedule is contained in the Rules of the Supervisory Board (Appendix B).