8.3.2.2 Board committees

The board committees form a robust part of the composition/structure building block of independence. The audit, remuneration and nomination committees comprise solely supervisory directors or NEDs. This entails that no executive director or CEO is involved in these board committees. At most one of the members may be non-independent. The chairman of the (supervisory) board or a former member of the management board of the company may not chair the audit and remuneration committees. In addition, at most one member of the management board of another listed company may be on the remuneration committee and this person may not chair that committee. These requirements for board committees are strong and examples of corporate governance best practices.