Change in the Executive Board
Corporate governance
The Supervisory Board's own performance
Performance of supervisory role
During the year, the members of the Supervisory Board
regularly attended, as observers, meetings of the Rabobank
Nederland Works Council, the regions and the Central
Delegates Assembly. This enables the Supervisory Board to
keep up to date with concerns among Rabobank
Nederland's major stakeholders.
On 1 July 2006, Mr D.J.M.G. (Rik) van Slingelandt, having
reached the pensionable age, retired from the Executive
Board, of which he had been Deputy Chairman for many
years. Mr van Slingelandt made major contributions to the
successful expansion of Rabobank Group's international
banking business. In addition, he has had great influence on
the international positioning of Rabobank as the pre-eminent
global food agri business bank. We are particularly grateful
to him for his commitment over many years.
Mr S.N. (Sipko) Schat has been appointed a member of the
Executive Board as of 1 July 2006. Until that date, Mr Schat
was a member of the Managing Board within Rabobank
International, with the wholesale banking business as
special area of responsibility.
Corporate governance at Rabobank Nederland is discussed
in the chapter 'Corporate Governance Rabobank Group'. The
three pillars of this governance are effective management,
effective member influence and strong and independent
supervision. The Supervisory Board fully endorses the
contents of that chapter.
The Supervisory Board discussed the work of the committee
for regional revision, which has resulted in a reduction in
the number of regions from 20 to 12, and that of the local/
central committee, that developed a decision matrix for the
question which activities could be best organised locally
and which collectively. Both committees comprised
General managers and directors as well as supervisors of
member banks and employees of Rabobank Nederland.
The same applies to the two committees discussed below.
The formulation and functioning of corporate governance
at Rabobank Nederland are the object of constant scrutiny
and are adjusted where necessary, as is reflected by the fact
that an internal committee has been requested to review
the organisation of Rabobank Nederland's important
member body, the Central Delegates Assembly (CKV).
In addition, the Internal financial relationships review com
mittee started its activities in late 2006. This work concerns
core aspects of the mutual relationship between member
banks and Group units as well as the relationship between
member banks and Rabobank Nederland. The Supervisory
Board looks forward with great interest to the advice of
both committees.
In 2006, the Supervisory Board considered its own perfor
mance in terms both of its performance as a collective
body and that of its individual members. Matters reviewed
in this context included members' attendance at Board
meetings and the extent to which the Supervisory Board
complied with its desired profile, its composition and its
required competencies. Where possible, improvements in
the Board's effectiveness are made on the basis of this
review, which is held annually. The Audit Compliance
Committee likewise reviewed its composition and
effectiveness in 2006 and, on the basis thereof, introduced
some improvements in its working methods.
In 2006, The Supervisory Board again assessed the perfor
mance of the Executive Board and its individual members
and arrived at conclusions on that basis. Further, the
Supervisory Board supervised the general conduct of affairs
at Rabobank Nederland and its affiliated entities. The
Supervisory Board also regularly served as a sounding
board for the Executive Board. Regular subjects of discus
sion are the strategy, the results and the risks associated
with the enterprise, such as the Executive Board's assess
ment of the design and operation of the internal risk
management and control systems and any significant
changes therein.
12 Rabobank Group Annual Report 2006
