Activities
During 2008, the Supervisory Board reviewed matters related to all aspects of Ahold’s activities, results, strategies and management, including:
- Establishment of the annual compensation of Corporate Executive Board members in accordance with the remuneration policy and with the assistance of the Remuneration Committee;
- Decisions on nominations for appointments to the Corporate Executive Board and Supervisory Board with the assistance of the Selection and Appointment Committee;
- With the assistance of the Audit Committee:
- Review of the financial reporting process and, in particular, the approval of quarterly earnings statements and related press releases and the 2007 Annual Report;
- Review of reports related to the enterprise risk management of the group, on subjects, including the main risks of the business and the result of the Corporate Executive Board’s assessment of the design and effectiveness of the internal risk management and control systems, and any changes required;
- Review of the reports by the internal and the external auditor;
- Approval of the proposal for the nomination of the external auditor;
- Review and approval of the annual budget;
- Review and approval of the annual update of the three-year business plan.
- Reviews of updates on the functioning of IT systems and the implementation of improvements, where necessary;
- Regular reviews of the U.S. businesses, including the implementation of the Value Improvement Program (VIP) and the execution of the new brand strategy at Stop & Shop and Giant-Landover;
- Regular reviews of the European businesses;
- Review of Company strategies as part of the annual strategic planning cycle;
- The divestment of Ahold’s majority interest in Schuitema in the Netherlands;
- Review of Ahold’s corporate responsibility strategy and initiatives and of the 2007 Corporate Responsibility Report;
- Regular updates on major legal proceedings with potential impact on Ahold;
- Review of reports of the various committees of the Supervisory Board;
- Regular assessment of the Corporate Executive Board, including the plans for succession of its members.