Members’ Council FrieslandCampina approves annual reports of 2021
The Members’ Council of Zuivelcoöperatie FrieslandCampina U.A. adopted the annual report of Zuivelcoöperatie FrieslandCampina U.A for the year 2021 on Tuesday 15 March 2022. Additionally, it approved the Board of the Cooperative's decision to adopt the financial statements 2021 of Royal FrieslandCampina N.V.
The Members’ Council also agreed to the proposal to add an amount of 33 million euros of the result for 2021 to the cooperative's general reserve and to reserve 8 million euros for the interest payment to holders of member certificates. For the 2021 financial year, 14 million euros will be paid out from the general reserve in the form of a supplementary cash payment (0.14 euro per 100 kilos of milk).
Governance changes
Sybren Attema, Chairman of the Board of Zuivelcoöperatie FrieslandCampina U.A. and Chairman of the Supervisory Board of Royal FrieslandCampina N.V., gave an update on governance changes that will be worked out in more detail in the next months. To further strengthen the effectiveness of the Board of the Cooperative and the Company's Supervisory Board, the proposal is to reduce the Board of the Cooperative from nine to eight members and the Supervisory Board from thirteen to nine members. In this regard, the Supervisory Board's vision is that there will be four external Supervisory Board members and five Cooperative Supervisory Board members (members of the Cooperative), of which at least three Cooperative Supervisory Board members will also be members of the Board of the Cooperative. This will create more room to attract Supervisory Board members with specific competencies and thus strengthen supervision of the Company. The current complete personal union between the members of the Board of the Cooperative and the members of the Supervisory Board will be abandoned.
As both Angelique Huijben-Pijnenburg's and Sandra Addink-Berendsen's terms as members of the Board of the Cooperative will expire in December 2022, the selection process for two members of the Board of the Cooperative will be initiated. Also, the selection process for two external Supervisory Board members will be started because René Hooft Graafland's second term expires in December this year and there is a vacancy for an external Supervisory Board member since December 2021.