8.3.1 Person building block

The DCGC uses a typical checking-the-box approach for the assessment of the independence of a supervisor. Eight circumstances and relationships are provided in the DCGC. If none of the relationships apply to a supervisor, he is considered to be independent. The supervisory board cannot overrule this decision and has no discretionary power in the determination of independence. The Dutch focus is on independence in form; and independence in fact and in appearance are not considered. By offering rights to the supervisory board or the nomination committee to consider a supervisor to be non-independent if none of the relationships apply to him and vice versa, much more situations that might impair his independence are taken into consideration. This would certainly improve the DCGC’s approach to determine independence and should be adjusted in the DCGC. The current situation makes the person building block of independence relatively weak in the Netherlands.