CEO & Chairman of the Managing Board.
The Managing Board is responsible for DSM's strategy, portfolio policy, the deployment of human and capital resources, the company’s risk management system and the company's financial performance. The functioning of, and decision-making by, the Managing Board is governed by Regulations fully in line with the Dutch Corporate Governance Code.
The Managing Board consists of three or more members as determined by the Supervisory Board and approved by the company's shareholders. To ensure the highest standards of transparency and accountability, all members appointed since 2005 serve for a maximum of four years and require shareholders to approve each subsequent term.
Notwithstanding their collective responsibility for the management of the company, individual members are assigned specific tasks and responsibilities for particular businesses, functional areas and regions.
The remuneration of the members of the Managing Board is determined by the Supervisory Board based on the remuneration policy approved by the General Meeting of Shareholders.
DSM operates in a competitive international industry and so closely monitors industry and company-specific international developments with respect to its Managing Board remuneration. Regarding Supervisory Board remuneration, DSM adheres to the principles of good corporate governance.
Comprehensive details of recent remuneration paid to DSM's Managing Board can be found in the Integrated Annual Report 2018.
The objective of DSM’s remuneration policy is to attract, motivate and retain qualified and expert individuals that the company needs in order to achieve its strategic and operational objectives, whilst acknowledging the societal context around remuneration and recognizing the interests of DSM's stakeholders.
The following elements are taken into consideration: