Corporate Governance
Imtech N.V. is a large company (under a mitigated regime in accordance with Article 155 Book 2 of the Dutch Civil Code). The company is managed by a Board of Management (‘BoM’) under the supervision of a Supervisory Board (‘SB’) (a so-called two-tier management structure), and also has a Central Works Council (‘CWC’) and a General Meeting of Shareholders (‘AGM’). The starting points of Corporate Governance are good business practices (honest and transparent dealings by the management) and good supervision of (and accountability for) this management. The Dutch Corporate Governance Code (hereafter ‘Code’) is applicable to Imtech and is formulated in principles and concrete stipulations. Imtech fully endorses these principles. With one exception all the stipulations of the Code have been implemented in regulations, Articles of Association and other rules and codes, which have been made public via the website.
Accountability regarding the code
Imtech applies all the stipulations of the Code except of one deviation: existing contractual agreements with BoM members (with regard to both the term of appointment and the termination recompense) will be honoured in accordance with the principles of Dutch Labour Law. The Code will be applied in the future when appointing BoM members.
Auditor
KPMG ACCOUNTANTS N.V.
P.W.J. Smorenburg RA