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Activities of the Supervisory Board

The discussions at the Supervisory Board meetings covered frequently recurring topics, such as reports of its committees, strategy, developments in financial results, business developments, quarterly interim management statements, acquisitions and divestments, key investments, annual budget, internal risk management and control systems, succession planning of the Supervisory Board and Board of Management, remuneration for the members of the Board of Management, corporate governance, investor relations, culture and values, the Science Based Target, the Financial Statements, and the Annual Report. In addition, the Supervisory Board discussed (the impact of) COVID-19, the ERP migration project, the construction of a new lactic acid plant, and the construction of a second PLA plant for the joint venture with Total.

The Supervisory Board has been closely involved in the strategy review that was initiated by the CEO, and resulted in the presentation of the updated long-term strategy at the Capital Markets Day in March 2020. The draft strategy update and the principal risks associated with it have been discussed in several meetings. Constructive discussions were held with the Executive Committee and the Supervisory Board played an active role in challenging and testing the ideas of the Executive Committee, subsequently the Supervisory Board approved the updates strategy Advance 2025.

Due to COVID-19 restrictions the Supervisory Board and the Executive Committee did not visit any Corbion plants in 2020.