Chairman Piet Moerland had stepped down in response to the Libor case. Rinus Minderhoud
immediately steered Rabobank into calmer waters and led Rabobank during a turbulent and
difficult period.The Supervisory Board lauds the ceaseless energy he displayed as Chairman of
the Executive Board, and is grateful for the way in which he operated in this difficult role and
discharged his responsibilities.
Talent management and management develop men t
The Supervisory Board has started to focus more pro-actively on the succession planning for
the Executive Board. This is based on the principle that the Executive Board will take the lead in
systematically following, evaluating and developing the bank's talent. At the end of 2013, an
assessment was performed of the top management of the Rabobank Group. At the start of
2014, this assessment was discussed in depth with the Executive Board, partly with a view to
succession planning. This was followed in 2014 by an assessment of the entire senior
management.The Supervisory Board and the Appointments Committee periodically monitor
talent management.The Supervisory Board considered various appointments-related issues in
2014, including some personnel changes in the higher senior management.
The Supervisory Board places great importance on gender diversity and did its utmost to put
this into practice. In 2014, this did not lead to a proposal to appoint a female candidate to the
Executive Board or the Supervisory Board. Nonetheless, the Supervisory Board will continue to
endeavour to appoint female members in the future.
In 2014, the Supervisory Board started a more systematic approach to target setting for and
the evaluation of members of the Executive Board as an instrument for systematically tracking
and improving the targets, performance and (personal) development of members of the
Executive Board.
Remuneration policy
Rabobank pursues a prudent, restrained and sustainable remuneration policy.The Supervisory
Board approves the remuneration policy for senior management and supervises its execution
by the Executive Board. In addition, the remuneration position of the members of the Executive
Board is benchmarked every year. On the advice of the Remuneration Committee, the
Supervisory Board approved a limited number of material exceptions to the Group
Remuneration Policy in 2014, which do not relate to the Executive Board. These exceptions were
partly proposed on the basis of divergent local legislation and regulations and/or market
practice.The Supervisory Board also considered the highest remuneration levels in the past year
via a Group-wide report on remuneration and the annual summary of variable remuneration for
Identified Staff. Detailed information on the Group Remuneration Policy and the remuneration
of the Executive Board and the Supervisory Board is available in the chapter on Remuneration
elsewhere in this Annual Report and in the note on Remuneration of the Supervisory Board and
Executive Board in the financial statements.
Procedures of the Supervisory Board of Rabobank Nederland
The members of the Supervisory Board in office on 1 March 2014 are listed in the Management
chapter in this Annual Report. The profile for the Supervisory Board has been posted on
www.rabobank.com. The chapter on Corporate governance in this Annual Report describes
the duties and responsibilities of the Supervisory Board and its role in Rabobank Nederland's
governance structure. In performing its duties, the Supervisory Board focuses on the interests of
Rabobank Nederland and its affiliated institutions, taking account of the interests of
stakeholders and aspects of corporate social responsibility that are relevant to Rabobank.
Report of the Supervisory Board of Rabobank Nederland