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Evaluation

The Supervisory Board conducted an evaluation of its performance, the performance of its committees, and that of its members, coordinated by an independent external specialist. Included was also its relation to and with the Board of Management and its members. A report of the evaluation, including observations and recommendations, was discussed by the Supervisory Board. General observations are in line with previous years, indicating a positive, 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. Committees with experienced Supervisory Board members perform well. The evaluation underlined the importance of aligned priorities between the Supervisory Board and Board of Management, especially in view of the implementation of the Advance 2025 strategy. The main topics for the 2023 agenda are geared toward safety, monitoring and evaluating the implementation of the revised Advance 2025 strategy, ESG reporting, and further building awareness of the stakeholder and market dynamics.

The Board of Management also conducted a self-evaluation of its performance and that of its members, supported by an independent external specialist. Included was also its relation to and with the Supervisory Board and its members. 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 2023 agenda are geared toward safety, executing the revised Advance 2025 strategy, the construction of our new lactic acid plant in Thailand, ESG reporting, and continued focus on employee development and wellbeing.