Atradius uses a structured system of checks and balances (as outlined below) to ensure the regulation of the relationships between its shareholders, Supervisory Board, Management Board and internal and external auditors. Atradius will continue to remain focused on corporate governance as the Atradius Group of companies develops and the business world changes.
The Management Board, which meets twice a month and more often when necessary, is responsible for the day to day business and strategy of Atradius. Its members have collective responsibility for all decisions taken by the Management Board, but each of them has specific management responsibilities for specific areas of Atradius. The Chairman of the Management Board is the primary liaison with the Supervisory Board and its Chairman.
Members of the Management Board are appointed by the shareholders upon recommendation of the Executive Committee, a sub-committee of the Supervisory Board.
Isidoro Unda (Chairman)
Chris van Lint
It is the duty of the Supervisory Board to supervise the way the Management Board manages Atradius, as well as the general affairs of Atradius. For certain important decisions, the Management Board requires the prior approval of the Supervisory Board. In performing their duties, the members of the Supervisory Board are obliged to consider the interest of both Atradius and its stakeholders. The Supervisory Board schedules to meet at least four times each year.
Supervisory Board members are appointed by the shareholders upon recommendation of the Executive Committee, a sub-committee of the Supervisory Board. The shareholders decide on the compensation of Supervisory Board members. Each member is appointed for three years and will resign or may be reappointed immediately after the date of the Annual General Meeting of Shareholders regarding the annual accounts for such third year.
Ignacio Álvarez (Chairman)
Francisco Arrequi (Vice-Chairman)
Paul-Henri Denieuil (Honorary Chairman)
The Audit Committee supports the Supervisory Board in fulfilling its supervisory and monitoring duties with respect to the assurance of the integrity of the Company’s financial statements, the external auditor’s qualifications and the performance of internal and external auditors. The Audit Committee monitors the financial reporting process within Atradius and the system of internal controls. The Audit Committee also facilitates the ongoing communication between the external auditor, the Management Board, the internal audit department and the Supervisory Board on issues concerning the Company’s financial position and financial affairs.
Risk and Finance Committee
The Risk and Finance Committee supports the Supervisory Board to fulfil its supervisory and monitoring duties with respect to internal risk management and control, the monitoring of the balance sheet and investment portfolio, and the financing of Atradius’ activities.
Remuneration, Selection and Appointment Committee
The Remuneration, Selection and Appointment Committee supports the Supervisory Board in fulfilling its supervisory and monitoring duties with respect to proposals for the appointment of members of the Management Board and the Supervisory Board, the remuneration policy, the remuneration of senior management and other corporate governance matters.
Strategy and Performance Committee
The Strategy and Performance Committee supports the Supervisory Board to fulfil its supervisory and monitoring duties with respect to the strategy and performance of Atradius.
On 1 January 2011, the Governance Principles published by the Dutch Association of Insurers took effect as a form of self-regulation. They describe certain conduct of business principles regarding corporate governance, risk management, audit and remuneration. The Governance Principles have been applied at the level of Atradius N.V. and are updated annually. For more information, see www.atradius.com.