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Evaluation

The Supervisory Board conducted a self-evaluation of its own functioning, the functioning of its committees, and that of its members. Included was also its relation to and with the Board of Management and its members. This was done by means of structured interviews with all members of the Supervisory Board. A report of the evaluation, including observations, recommendations, and the implementation of the agreed 2020 attention areas, was discussed by the Supervisory Board. General observations are in line with previous years indicating an open and constructive interaction between members of the Supervisory Board focused on the business at hand and taking timely decisions when required. The Supervisory Board feels sufficiently informed and involved by the Board of Management, and is positive about the interaction and dynamics while the committees function as expected with experienced Supervisory Board members. The self-evaluation underlined the importance of aligned priorities between the Supervisory Board and Board of Management, especially in view of the updated strategy and the implementation thereof. The main topics for the 2021 agenda are geared toward safety, monitoring and evaluating the implementation of the updated strategy and the key strategic projects and initiatives, monitoring the business progress of Algae Ingredients, innovation portfolio, and prepare for the further succession planning of the Supervisory Board.

The Board of Management also conducted a self-evaluation of the functioning of the Board of Management and that of its members. Included was also its relation to and with the Supervisory Board and its members. This was done by means of in-depth structured interviews with all members of the Board of Management. General observations are that the members of the Board of Management are positive about their overall performance, that the size and composition of the Executive Committee are appropriate, and that there is a right balance between distance and involvement with the Supervisory Board. The main topics for the 2021 agenda are fully in line with the agenda of the Supervisory Board and geared at safety, executing the updated strategy Advance 2025, business progress of Algae Ingredients, development of the commercial and innovation pipeline, and the implementation of the new ERP system.