Good governance of a listed company in the Netherlands protects the interests of shareholders, employees and other stakeholders. The rules of conduct for this are written down in the Dutch Governance Code. Large and listed companies are legally obliged to comply with this code. For example the healthcare and housing cooperatives have their own governance code. The Dutch governance is different from the codes used in for example the United Kingdom and the United States.
Responsibilities of supervisory board members
The non-commitment of the past for a member of the supervisory board doesn't exist anymore. When something goes wrong in the organization the role of the supervisor is also examined by the judge or the trustee in the event of for example a bancruptcy.
Importance of the governance code
The different Governance Codes in the Netherlands gives per sector in society a good guidance in the responsibilities of the modern supervisor. The question is of course how these guidelines are implemented to create a good balance between management and supervisory board. That's why it's important to be aware of the Dutch governance rules and it's social and legal requirements.
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