Remuneration report

We have a clear strategic focus to become the reference in paints and coatings with strong global brands, leading market positions and a balanced geographic exposure across all regions. Our strategy is aimed at long-term value creation.

To realize our strategy and create the long-term value we aim for, it’s essential that we can attract and retain high caliber members to our Board of Management and Supervisory Board. This is reflected in the remuneration policies for each of these boards.

The Remuneration Policy for the Board of Management (the “Policy”) was first adopted by shareholders at the Annual General Meeting (AGM) in 2005. It has undergone several amendments since then – most recently in 2018 – and was adopted by shareholders at the Annual General Meeting (AGM) in 2020 (with 92% of votes in favor). Details about its implementation in 2020 can be found in section Remuneration for the Board of Management.

The Remuneration Policy for the Supervisory Board was adopted by shareholders at the 2014 AGM, with some limited changes being approved at the AGM in 2020 (with 99% of votes in favor). Details about the implementation of the current policy in 2020 are in section Remuneration for the Supervisory Board.

The execution of remuneration for both the Board of Management and Supervisory Board has been fully compliant with the applicable policies. The revised European directive on the encouragement of long-term shareholder engagement (SRD II), and its codification in Dutch law, have been considered in the disclosure presented in this report.

For a full description of the Remuneration Policy for both the Board of Management and the Supervisory Board, please visit our website.

The remuneration for the financial year 2020, as described in this report, is subject to an advisory vote at the 2021 AGM. Questions raised in the 2020 AGM regarding remuneration items were addressed in the respective meeting, resulting in 94% votes in favor of the 2019 Remuneration report.