Management Board

Task and procedures

The Management Board is in charge of the company’s management. Key responsibilities of the Management Board include achieving the objectives of Nuon, its strategy and policy inclusive of the concomitant profit targets. The Management Board is also responsible for ensuring compliance with all relevant laws and regulations, for the management of the risks related to Nuon’s business activities and for financing the business. In addition, the Management Board is responsible, together with the Supervisory Board, for the Corporate Governance structure and compliance with the Code.

The Management Board is jointly responsible for the management of Nuon. Within this joint responsibility, every member of the Management Board has their specific tasks and fields of attention based on an internal allocation of duties.

The Management Board is accountable for the performance of its tasks to the Supervisory Board and to the General Meeting of Shareholders. The Management Board operates in accordance with its own charter, which sets out the procedures governing membership, tasks and powers, meetings and decision-making.

Appointment and membership

Nuon’s Supervisory Board appoints the members of the Management Board. The Management Board consists of at least two members. The Supervisory Board appoints one of the members of the Management Board as Chairman and another member as Chief Financial Officer. In the year under review, the Management Board consisted of four members.

Without the prior approval of the Chairman of Nuon’s Supervisory Board, a member of the Management Board may not become a member of the Supervisory Board of a listed company. Nor may members of the Management Board hold other important positions. In any event, a member of the Management Board may not be appointed to the Supervisory Board of more than two listed companies or occupy the position of Chairman of the Supervisory Board of a listed company.

Remuneration

The Supervisory Board determines the remuneration and other conditions of employment of each member of the Management Board in accordance with the remuneration policy adopted by the General Meeting of Shareholders. The information on the remuneration of individual members of the Management Board can be found in the Remuneration Report of the Supervisory Board.