Boskalis jaarverslagen 2011

Remuneration committee

Members of the Remuneration Committee

The Remuneration Committee consists of two members: 
Mr. C. van Woudenberg (chairman) and Mr. M.P. Kramer.

The Remuneration Committee regularly availed itself of the services of an independent remuneration adviser and ascertained that this remuneration adviser does not provide advice to the members of the Board of Management. 

Duties and responsibilities of the Remuneration Committee

The Remuneration Committee performs the following duties:

  • The submission of a proposal to the Supervisory Board concerning the remuneration policy to be pursued for the members of the Board of Management. The policy is submitted to the General Meeting of Shareholders for approval.
  • The submission of a proposal to the Supervisory Board concerning the remuneration of individual members of the Board of Management (in accordance with the remuneration policy adopted by the General Meeting of Shareholders).
  • The preparation of the remuneration report on the remuneration policy pursued, subject to adoption by the Supervisory Board.

Activities during 2011

The Remuneration Committee met twice during 2011. The committee also held regular consultations outside these meetings.

On 21 January 2011 the Extraordinary General Meeting of Shareholders adopted the Supervisory Board’s proposal to revise the remuneration policy for the Board of Management. This proposal was based on a recommendation drawn up by the Remuneration Committee to simplify the method used to calculate the quantitative measures of the variable short-term and long-term elements.

Amongst other activities the Remuneration Committee:
  • kept itself up to date with the latest developments in Corporate Governance, both in the Netherlands and internationally;
  • started a remuneration survey relating to Supervisory Board remuneration policies in the Dutch market;
  • conducted scenario analyses.

Remuneration policy for the Board of Management

The remuneration policy for the Board of Management was adopted by the Extraordinary General Meeting of Shareholders on 21 January 2011. The remuneration policy is appropriate to the strategy and core values of Boskalis, which are centered on long-term orientation and continuity, and take into account the interests of Boskalis’ shareholders, clients, employees as well as the ‘wider environment’. In the course of 2011 the remuneration policy was executed in accordance with the remuneration policy as adopted by the General Meeting of Shareholders. The full text of the revised remuneration policy as well as the remuneration report can be found on the website (www.boskalis.com).

Remuneration policy for the Supervisory Board

The remuneration policy for the Supervisory Board was adopted by the General Meeting of Shareholders in 2007. During 2011 the remuneration policy was executed in accordance with the remuneration policy as adopted. In 2011, a remuneration survey was started into the remuneration of Supervisory Board members. The results will be submitted to the General Meeting of Shareholders.

Added to My report add to My report Source: Annual review 2011, Report of the Supervisory Board, page 27