General
The Supervisory Board is comprised of Mr D.R. Goeminne (Chairman), Mr A. Beyens, Mr P.C. Boone, Mr B.E. Karis and Mr H.C.M. Vermeulen. The CVs of the members of the Supervisory Board are included in the section Supervisory Board. In accordance with the provisions of the Dutch Corporate Governance Code, all Supervisory Board members are independent.
Supervisory Directors are appointed for a period running up to and including the day of the first Annual General Meeting that is held four years after their appointment. Supervisory Directors retire periodically in accordance with a schedule to be drawn up by the Supervisory Board. The following retirement by rotation schedule applies:
Supervisory | Appointed | Retirement/ |
|---|---|---|
D.R. Goeminne | 26-04-2010 | AGM 2019 |
H.C.M. Vermeulen | 26-04-2018 | AGM 2022 |
A. Beyens | 03-12-2018 | AGM 2023 |
P.C. Boone | 03-12-2018 | AGM 2023 |
B.E. Karis | 03-12-2018 | AGM 2023 |
In accordance with best practice provision 2.2.2 of the revised Corporate Governance Code, Mr Goeminne was reappointed for a term of one year during the Annual General Meeting on 26 April 2018. Mr Vermeulen was appointed for a term of four years during the same Annual General Meeting. Mr Beyens, Mr Boone and Mr Karis were appointed in the Extraordinary General Meeting on 3 December 2018. Ms De Groot and Mr Van der Vis stepped down on 4 December 2018.
2018 Results
The Supervisory Board closely monitored the development of Beter Bed Holding and shares the Management Board’s view that major changes needed to take place within the Group in 2018. The development of results in the Benelux was satisfactory. The same also applies to the measures taken at Matratzen Concord. The Supervisory Board however shares the disappointment of the Management Board with regard to the strong decrease of the operating profit in 2018, which was attributable to the development at Matratzen Concord in recent years.
Despite the strong decrease of the results, the Supervisory Board is convinced that the transformation will be implemented in 2019 and 2020 as communicated at the Capital Markets Day in October 2018. In addition, the Supervisory Board will continue to be closely involved in the further development of the strategy that will be presented in November 2019.