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. This was done by means of an online questionnaire to the members of the Supervisory Board. The survey covered the Supervisory Board’s relationship 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. The 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 revised Advance 2025 strategy and the restructuring program. The main topics for the 2024 agenda include continued focus on safety, overseeing the execution of the strategy in particular with regard to the restructuring, talent and succession planning for Board of Management and Executive Committee as well as PLA.

The Board of Management also conducted a self-evaluation of its performance and that of its members, supported by an independent external specialist. This was done by means of an online questionnaire to the Board of Management members and several members of the Executive Committee. The survey covered the relationship to and with the Supervisory Board and its members. General observations are 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 2024 include continued focus on safety, executing the revised Advance 2025 strategy and the restructuring program, the start-up of our new lactic acid plant in Thailand, and continued focus on employee engagement in the context of the restructuring program.