FMO has a two-tier board structure consisting of the Management Board and the Supervisory Board, as defined by the Dutch Civil Code.
Our corporate governance structure is based on the premise that FMO is a long-term partnership of stakeholders who, directly or indirectly, influence or are influenced by the achievement of our objectives. Stakeholders include employees, shareholders and other capital providers, clients and partners, the Dutch government and local communities in the countries where we work. Last year, we finalized an extensive analysis of our external stakeholders.
Our entire organization is expected to take the interests of all stakeholders into account at all times. In governance terms, this expectation is expressed through the responsibilities and accountabilities of the Management and Supervisory Boards to our shareholders and other stakeholders.
The roles of AGM, Supervisory Board and Management Board did not change in 2011. This also applies to the Audit & Risk and Selection, Appointment & Remuneration committees. Detailed information is available on our website.