Boskalis_Annual_Report_2016

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REPORT OF THE BOARD OF MANAGEMENT
ANNUAL REPORT 2016 – BOSKALIS
58
CORPORATE GOVERNANCE
The Board of Management
and the Supervisory Board
are jointly responsible for
looking after the interests
of our stakeholders.
APPLICATION AT BOSKALIS
Boskalis operates a two-tier board model, which means that management and supervision are
segregated. The Board of Management is responsible for the day-to-day management of the
business, and for setting out and realizing the company’s long-term strategy along with the
associated risks, the results and entrepreneurial matters relevant to the company. The Board of
Management is responsible for establishing the company’s objectives, implementing its business
policies and for the resulting performance. The Board of Management is accountable to the
Supervisory Board and the General Meeting of Shareholders. In performing its tasks, the Board
of Management is guided by the interests of the company and its activities, and takes into
account any relevant interests of parties involved with the company.
The Supervisory Board is responsible for supervising management performance and advising
the Board of Management. The Supervisory Board is supported in its work by three so-called
core committees: the Audit Committee, the Remuneration Committee and the Selection and
Appointment Committee. For a summary of the activities of the Supervisory Board and its
committees in 2016, please refer
At Boskalis there is close collaboration between the Supervisory Board and its committees, the
Board of Management and the stakeholders. The Board of Management and the Supervisory
Board are jointly responsible for looking after the interests of our stakeholders, which includes
creating shareholder value in the long term.
Our stakeholders are those groups and individuals that directly or indirectly influence the company’s
activities, or are influenced by them. They include the employees, shareholders and other financiers,
suppliers, clients, government bodies, educational and knowledge institutes, industry and society
associations (including NGOs) and the communities in which Boskalis operates.
At least one General Meeting of Shareholders takes place every year. Its tasks include the
adoption of financial statements and it holds authority with regard to the appointment and
dismissal of Supervisory Board members.
The interests of employees are promoted by the Works Council, which provides ongoing
employee representation as required under the Dutch Works Councils Act. It is the task of the
Works Council to ensure that management objectives correspond to those of the employees.
Mega hopper Queen of the Netherlands
at work in Songdo, South Korea.