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Corporate Governance in the Netherlands

Managing Directors

A managing director may be suspended or dismissed by the corporate body that appointed them, with opportunity for hearing. This process ensures accountability and transparency within the company.

A managing director may be removed from their position due to various reasons.
The decision to suspend or dismiss a managing director is made by the corporate body that appointed them.
Opportunity for hearing allows the managing director to present their case before being removed.

Supervisory Board of Directors

The supervisory board plays a crucial role in advising and supervising the management board. Companies not required to have a supervisory board may still opt to have one, giving them additional oversight and guidance.

Voluntary Supervisory Board

Companies may choose to establish a supervisory board voluntarily.
The supervisory board advises and supervises the management board, ensuring that they are making informed decisions.
Members of the supervisory board sign financial statements, demonstrating their accountability for the company’s financial performance.

Compulsory Supervisory Board

Companies classified as “structuurvennootschap” (meeting certain criteria) are required to have a supervisory board. This ensures that these companies receive additional oversight and guidance in their operations.

Companies meeting the criteria for three consecutive years must establish a compulsory supervisory board.
Some resolutions of the management board require consent from the supervisory board to be valid.
The supervisory board adopts some resolutions that would normally be adopted by shareholders’ meeting, giving them greater control over the company’s operations.

Responsibilities of Management Board

The management board is responsible for the day-to-day operations of the company. Their duties include:

Managing the company and making strategic decisions.
Representing the company towards third parties.
Maintaining the share register.
Preparing the annual report.
Signing financial statements.
Ensuring that filing requirements are met.
Maintaining records of shareholder resolutions.

Criteria for Compulsory Supervisory Board

Companies must meet all of the following criteria for three consecutive years to be classified as a “structuurvennootschap” and required to have a compulsory supervisory board:

The sum of issued share capital and reserves (total equity) is at least EUR 16 million.
A Works Council has been compulsorily established.
There are at least 100 employees in the Netherlands.