Remuneration Committee
Due to the size of the company, the Board of Directors has combined the nomination committee and the remuneration committee. The combined committee is referred to as the ‘remuneration committee’.
Responsibilities
The remuneration committee is responsible for the selection of suitable candidates for the appointment to the board and may make recommendations to the Board of Directors with regards to the appointment of directors and the members of the executive management.
The remuneration committee also makes recommendations to the Board of Directors on the remuneration policy of the company and the remuneration of board members and the members of the executive management.
Composition
The remuneration committee of the company consists of at least three members, all of which are non-executive directors and the majority of which are independent directors. On 31 December 2008, the remuneration committee had following members:
Name Current term*
Creafim bvba, represented by 2009
Wim Deblauwe
Peter Op de Beeck bvba, represented by 2012
Peter Op de Beeck
vdb management bvba, represented by 2011
Michel Van den Broeck
* The term of office of the members of the Board of Directors expires immediately after the General Shareholders’ Meeting of the year indicated next to the name of each director.
Assemblies
The remuneration committee met once during the 2008 financial year.