Supervisory Board Committees

Audit Committee

Mr. Bolliger; Mr. Eelman (chairman)

The Audit Committee met four times in 2016, according to its fixed schedule, in the presence of the CFO, internal auditor and Company Secretary. The CEO participated in one meeting. At three of the four meetings GrandVision’s external auditor PwC was present. At the meeting in March 2016, the Audit Committee reviewed the draft Annual Accounts for 2015. Important items on the agenda were the auditor’s report for 2015 and GrandVision’s continuing commitment to strong internal controls. The external auditor did not identify any material weakness in internal controls. Nevertheless, a number of opportunities for improvement were identified by internal audit. The Management Board agreed with the external and internal auditor’s comments and plans were made for follow-up.

Remuneration Committee

Mr. van der Graaf; Mr. Groot (chairman)

The Remuneration Committee met three times in 2016, according to its fixed schedule. At the meeting in March, the achievements of 2015 were discussed and recommendations on the awarding of bonuses to the senior management of GrandVision were made. In the December meeting the salary review for senior management and bonus objectives for 2017 were discussed and proposed for approval to the Supervisory Board.

Nomination Committee

Mr. van der Graaf; Mr. Groot (chairman)

The Nomination Committee met once in 2016, according to its fixed schedule. During its meeting the Nomination Committee discussed GrandVision’s nomination procedures for the Supervisory Board and Management Board and confirmed these were followed systematically in 2016. In addition, the Nomination Committee reviewed the structure, profile and succession planning for both the Supervisory Board and the Management Board.