Supervisory Board structure in 2017
Members of the Supervisory Board are appointed by the Annual General Meeting (AGM). The Board currently comprises of six members. As already mentioned, in 2017 Jean Frijns stepped down as Chairman and was succeeded by Pier Vellinga. In addition, we are very pleased with the appointment of Koos Timmermans as a new member. Mr. Timmermans is Chief Financial Officer at the Executive Board of ING Group and therefore brings a wealth of financial and banking experience. He was also appointed as Chairman of the ARC of FMO.
FMO’s Supervisory Board and its committees work through regular, pre-scheduled meetings throughout the year. As needed, ad-hoc additional meetings are planned. There were 7 formal meetings of the Supervisory Board in 2017 and 1 dedicated strategy session. Members rarely missed a meeting. Supervisory Board members are in frequent contact with the Management Board so that they remain fully informed and can provide advice at all times. The Supervisory Board Chairman meets the Chief Executive Officer informally once a month. Individual Supervisory Board members also attend Works Council meetings, along with the Chief Executive Officer.