Throughout the year, all members of the Supervisory Board were independent from the Company under the terms of the Dutch Corporate Governance Code; the composition of the Board was such that members were able to act critically and independently of one another and of the Executive Board and any particular interest.
The Supervisory Board decided to perform its annual self evaluation with an independent consultant. Interviews took place during the last quarter of 2010. The results will be discussed in the Supervisory Board’s February 2011 meeting. A great deal of effort was put in to the preparation of this first evaluation so no internal evaluation took place during 2010. The scope of the evaluation included the functioning of the Committees and the individual Board Members. The Supervisory Board met once without the Executive Board, to discuss the effectiveness of both Boards and the relationship between the two. In general, the Supervisory Board judged its own effectiveness to have improved and is determined to continue this progress.