Remuneration of the Supervisory Board
The regular duties of the members of the Supervisory Board consist of exercising supervision,
providing advice and acting in the role of employer. Besides attending the meetings of the
Supervisory Board, attending the meetings of the various committees of the Supervisory Board
(Audit Committee, Risk Committee, Cooperative Affairs Committee, Appointments Committee,
Remuneration Committee and, in certain cases, the Appeals Committee), its duties also
encompass attending consultative meetings of the Works Council as observer on a rotating
basis, attending, on a quarterly basis (one or more) Regional Assembly meetings and meetings
of the Central Delegates Assembly (CDA), maintaining contacts with local Rabobanks and
attending the Annual General Meeting. Additional time needs to be committed to meeting the
requirements of continuing professional education. The average time spent by members of the
Supervisory Board of Rabobank Nederland, including the various committees, is approximately
as follows:
3 to 4 days a week for the Chairman;
1 to 2 days a week for the Deputy Chairman; and
1 to 1.5 days a week for a member.
Within the total fee received by the Chairman of the Supervisory Board, one part relates to the
role of Chairman of the Supervisory Board and participating in the various committees of the
Supervisory Board. Another part of this fee relates to ensuring the effective representation of
cooperative members' influence that is unique to Rabobank and derives from its cooperative
structure. These duties include, for instance, acting as Chairman for the Central Delegates
Assembly. More information on the overall fees received by the Supervisory Board is available in
the chapter on Remuneration in this Annual Report.
Self-assessment
The Supervisory Board reviews its own performance and that of the separate committees on a
regular basis. In addition, the Chairman has one-on-one meetings with each of the members of
the Supervisory Board periodically to assess the performance of the Supervisory Board as a
whole and that of the member in question. These forms of self-assessment are used to bring
about improvements in the performance of the Supervisory Board and that of the individual
supervisory directors, and to undertake individual or collective efforts to improve the members'
knowledge where necessary. Key issues in the performance assessment are the degree to which
the Supervisory Board, its committees and its individual members comply with the chosen profile,
the composition and the availability of the required competencies of the Supervisory Board and
of the separate committees, and the supervisory directors' attendance of Supervisory Board
meetings and their input into these meetings. The range of competencies represented is, at
vacancies, supplemented through new appointments as appropriate. In the first quarter of
2014, the Supervisory Board arranged for a comprehensive independent assessment of its
performance by an external party. The commitment of each member of the Supervisory Board,
the culture within the Board, the attitude and conduct of the individual members and the
relationship between the Supervisory Board and the Executive Board were part of this
assessment.The assessment identified several themes on which the Supervisory Board intends
to focus more closely. They included acting in the role of employer (target setting, monitoring
and evaluation of the members of the Executive Board, succession planning, management
development and talent development), conduct and culture, strategy development, agenda
management and processes concerning the Supervisory Board. This has led, for instance, to
the application of a more stringent system of target setting, monitoring and evaluation of the
members of the Executive Board and holding external assessments for the entire senior
management.
Annual Report 2014 Rabobank Group
