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Contents Foreword Management report Corporate governance
Consolidated Financial Statements
Company Financial Statements
Pillar 3
Rabobank Supervisory Board
Fee structure
Supervisory Board directors are non-executives and independent
of Rabobank. Instead of a salary, they receive a predetermined
fee commensurate with their position on one of the various
committees, which is determined by our General Members
Council. Our Supervisory Board has nine members, one-third of
them are women.
Committee memberships are listed on www.rabobank.com.
As of 1 October 2016 the fee structure was adjusted.
Individual payments
Payments to members and former members of the Supervisory
Board totalled EUR 1.2 million, including the VAT and employer's
contributions. The remuneration for individual members of the
Supervisory Board in office on 31 December 2016 (excluding
VAT and other charges) was as follows:
Payments to individual members of the Supervisory Board
in thousands of euros Remuneration
W. Dekker (in office until 15 September 2016) 242
I.P. Asscher-Vonk 98
L.N. Degle 86
S.L.J. Graafsma 110
E.A.J. van de Merwe (in office until 14 September 2016) 73
R. Teerlink 131
A.A.J.M. Kamp 91
M. Trompetter 104
P.H.J.M. Visée (remunerated as of 14 December 2016) 4
P.H.M. Hofsté (remunerated as of 14 December 2016) 4
J. Nooitgedagt (remunerated as of 14 September 2016) 32
Total 2016 975
Total 2015 1,030
Movements in the loans, advances and guarantees provided to
members of the Supervisory Board in office on 31 December
2016 were as follows:
Movements in loans, advances and guarantees provided to
Supervisory Board
in millions of euros
2016
2015
Loans, advances and guarantees
Outstanding on 1 January
1.4
2.6
Provided during the year - -
Redeemed during the year
(0.1)
(0.7)
Reduction on account of leaving office
(0.9)
Increase on account of taking office
0.4
Outstanding on 31 December
1.3
1.4
At year-end 2016, the members of the Supervisory Board
not listed in the table above had not received any loans,
advances or guarantees. These transactions were concluded
in accordance with market rates, which partly depend on the
currency as well as the agreed fixed-interest period and the
time the transaction was completed or a new fixed-interest
term becomes effective.
Certificates per member of the Supervisory Board
Some members of the Supervisory Board have invested in
Rabobank Certificates in person and/or through their own
pension B.V. At year-end 2016 certificates totalled 15,780.
Number of certificates per member of the Supervisory Board
I.P. Asscher-Vonk 6,894
L.N. Degle 4,836 (pension B.V.)
S.L.J. Graafsma 4,050 (pension B.V.)
Loans per member of the Supervisory Board
The loans, advances and guarantees secured by members of
the Supervisory Board in office on 31 December 2016 and the
average interest rates were as follows:
Loans per member of the Supervisory Board
in millions of euros
Outstanding
loans
Average interest
rate (in
On 31 December 2016
A.A.J.M. Kamp
0.9
2.6
M. Trompetter
0.4
4.0
Benchmark
We use external benchmarking to compare the Supervisory
Board remuneration against remuneration paid in the
market. The latest study took place in 2013 and compared
remunerations paid to the Supervisory Board from three
perspectives, including remunerations paid to supervisory
boards of larger AEX companies, remunerations based on time
use combined with an hourly rate, and remunerations based on
the points system for Supervisory Board membership in relation
to the fixed salary of the Supervisory Board chairperson.
The fee structure was adjusted 1 October 2016.
There were no major external shifts which necessitated
external benchmarking, but the adjustment was motivated by
a number of recent developments. First, the increased external
supervision requires greater commitment from the committees'
chairpersons. Furthermore, the new governance entails that
the supervisory task is fulfilled on behalf of the members, and
requires closer contacts with these members. Finally, Rabobank
107 Our output and impact: responsible remuneration
