Corporate Governance

Supervisory Board

The Supervisory Board watches over the general policy and strategy of TenneT and carries out its duties in the interests of the enterprise and all relevant stakeholders. The Supervisory Board acts on the level of TenneT Holding B.V. The statutory two-tier ('structure') regime applies to TenneT.

The Supervisory Board has produced a profile of its composition. The profile takes into account the nature of the company and the required expertise and background of Supervisory Board members. The Supervisory Board consists of at least three members. At present it has five members. The individual members may not serve more than three terms of four years. The members step down according to a predetermined retirement rota.

The Supervisory Board has selected a number of its members to form an Audit Committee and a Remuneration and Appointments Committee. The Audit Committee is charged with monitoring the company's financial reporting including its quarterly and annual reports, its financial reporting policy, its internal control mechanisms, the independent external audit of the financial statements and the evaluation of the external auditor. The Remuneration and Appointments Committee is charged with making proposals concerning the remuneration policy to be pursued, the remuneration of individual directors and the preparation of a remuneration report. The Committee also defines criteria for the appointment of directors and supervises the procedure for the appointment of new directors.

Regulations have been drawn up to govern the operation of the Supervisory Board, the Audit Committee and the Remuneration and Appointments Committee. Full information concerning the Supervisory Board and its individual members can be viewed on the TenneT website.