Our corporate governance structure, its supervision and the way it is reported, is in line with the Dutch Corporate Governance Code.
Compliance with the corporate governance code
The Dutch corporate governance code contains principles and best practices on the governance of listed companies and their accountability to their shareholders on this topic. Fugro has complied with this code since it was first introduced in 2013, with few deviations. In December 2016 a revised version of the code was published (the ‘Code’). The Code was designated as the new corporate governance code by Decree on 7 September 2017 and entered into force for the financial year 2017. The most important change is the central role given to long-term value creation, and the introduction of culture as a component of effective corporate governance.
The principal changes revolve around seven themes: greater focus on long-term value creation; reinforcement of risk management; shift of focus in effective management and supervision; introduction of culture as an explicit part of corporate governance; improvement and simplification of the remuneration provisions; shareholders and the general meeting and quality requirements for the “comply or explain” statements. In 2017 Fugro has acquainted itself with the Code and, where needed, has brought its corporate governance structure in line with the revised principles and best practices.