Report of the Supervisory Board
of Rabobank Nederland
Iri 2008, Rabobank turned in a strong performance under difficult conditions.
Worldwide, the economic turbulence did not leave a single financial institution
unaffected, although Rabobank proved to be less vulnerable than many listed
banks. Rabobank demonstrated once again that, thanks to its sound cooperative
structure characterised by strict checks and balances, it can promote stability and
security among its members and clients. This was reflected in high customer and
employee satisfaction.
www.rabobank.com/management
Proposal to the General Meeting
In compliance with the relevant provisions of the Articles of Association of Rabobank Nederland, the
Supervisory Board has reviewed the annual report and the financial statements for 2008. This review
included a discussion with the external auditors Ernst Young Accountants LLP, and the Supervisory
Board took note of the auditor's report of Ernst Young Accountants LLP to the financial statements for
2008. Based on its findings, the Supervisory Board proposes that the General Meeting of Rabobank
Nederland adopt the financial statements for 2008.
Corporate governance
Corporate governance at Rabobank Nederland is discussed in a separate section of this annual report.
The three pillars of this governance are decisive management, effective member influence and strong
and independent supervision. The Supervisory Board endorses the contents of that section.
Activities of the Supervisory Board
The Supervisory Board of Rabobank Nederland supervises the policy of the Executive Board, the general
conduct of affairs at Rabobank Nederland and its affiliated entities as well as compliance with laws and
regulations. The Supervisory Board is responsible for the appointment, dismissal and remuneration of
the members of the Executive Board of Rabobank Nederland. In addition, the Supervisory Board advises
the Executive Board. Information on the composition of the Supervisory Board and the Committees
from the Supervisory Board is included elsewhere in this annual report.
Appointments and reappointments
On 19 June 2008, the General Meeting of Rabobank Nederland resolved to reappoint Mr Bijvoet,
Mr Eisma and Mr Overmars to the Supervisory Board for a period not exceeding four years. Mr De Boon,
who was also eligible for re-appointment in 2008, decided not to stand for re-election. The Supervisory
Board is grateful for his contribution to the Board's performance over the past years.
Independence and expertise
It is important that the Supervisory Board can perform its duties independently. Any semblance of a
conflict of interests must be avoided. Equally important are its expertise and broad experience, the
criteria for which have been defined in the profile for the Supervisory Board, which was amended in
2008. In both appointments and reappointments of members of the Supervisory Board, these aspects
are considered in depth.
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Control aspects