Our leadership

*Executive Board

The Executive Board is part of the Executive Team. The Executive Board comprises a minimum of two members and is collectively responsible for the management of the company. The Executive Board's responsibilities include the policy and business operations within the company and with this the achievement of the goals, strategy, profit development and the social aspects of doing business that are relevant for FrieslandCampina. The Executive Board is also responsible for compliance with legislation and regulations, management of the risks associated with the company's activities, and the financing of the company. The Executive Board discusses the internal risk management and control systems with the Supervisory Board and the Audit and Risk Committee.

In the execution of its duties the Executive Board is focused on sustainable long-term value creation for FrieslandCampina and its associated companies, and formulates an appropriate strategy for this purpose. The Executive Board is accountable to the Supervisory Board for its policy.

Appointment of Executive Board members

The members of the Executive Board are appointed by the Supervisory Board for a maximum term of four years upon proposal of the Remuneration, Nomination and Governance Committee.

In the Executive Team, all business groups and strategic functions come together. The business is divided into seven business groups, each led by a President. The task of the Executive Team is to implement the strategy, transform objectives into specific plans and manage operating companies within their area of responsibility.

Appointment of Executive Team members

Each of the Presidents of the Executive Team shall be appointed as member of the Executive Team by the CEO, subject to approval by the Supervisory Board and after consultation of the Remuneration, Nomination and Governance Committee.

Remuneration policy for the members of the Executive Board and the Executive Team

The remuneration of the members of the Executive Board is determined by the Supervisory Board in accordance with the remuneration policy. The remuneration of the Presidents shall be determined by the CEO, also in accordance with the remuneration policy. The remuneration policy is adopted by the General Meeting of Shareholders with the prior approval of the Supervisory Board upon proposal of the Remuneration, Nomination and Governance Committee. This policy is accounted for every year in the meeting of the Cooperative's Members' Council.

Diversity, equity and inclusion policy for the Executive Board and Executive Team

Apart from a balanced composition of the Executive Board and Executive Team in general, a balanced male-female participation in the Executive Board and Executive Team is envisaged, with a goal to have at least 30% male and at least 30% female members in of each of the Executive Board and the Executive Team.