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Annual Report 2023

Risk management

Given the complexity of worldwide operations in various markets and jurisdictions, Corbion needs to ensure timely identification and effective management of all significant risks inherent to the execution of our strategy to support the realization

Control environment

The control environment is the combination of standards, processes, culture, and structures that provide the basis for carrying out internal control across the organization.

Internal control systems

Corbion applies the three-lines-of-defense model for internal controls. The first line (line management) is responsible for the operational effectiveness of the internal control framework.

Governance/risk management and responsibility statement

Corbion has defined a governance model that identifies clear reporting and accountability structures in line with the Dutch Corporate Governance Code.

Report of the Supervisory Board

The Supervisory Board supervises and advises the Board of Management and Executive Committee in performing their management tasks and setting the direction of the business of Corbion.

Composition of the Supervisory Board

The current members of the Supervisory Board are Mathieu Vrijsen (Chair), Ilona Haaijer (Vice-Chair), Liz Doherty, William Lin, Steen Riisgaard, and Dessi Temperley.

Meetings of the Supervisory Board

During the year under review, the Supervisory Board held seven regular meetings. In addition to these, six conference call meetings were held. The Board of Management attended these meetings.

Activities of the Supervisory Board

The discussions at the Supervisory Board meetings covered frequently recurring topics, such as safety, reports of its committees, the Advance 2025 strategy, developments in financial results, dividend proposal, financing, business developments,

Evaluation

The Supervisory Board conducted an evaluation of its performance, the performance of its committees, and that of its members, supported by an independent external specialist.

Committees of the Supervisory Board

The Supervisory Board has appointed from among its members an Audit Committee, Remuneration Committee, Appointment and Governance Committee, Science and Technology Committee, and Sustainability and Safety Committee.
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