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Members of the Board are appointed by the General Members Meeting, following a binding recommendation by the SB. The nomination by the SB can be set aside by a majority of three-fourths of the valid votes cast. A Board member is appointed for three years, unless the General Members Meeting, after agreement from the SB, decides differently, and with the option to be re-appointed for, in principle, a maximum of one more Board term.
The members of Grant Thornton’s Board are all designated as policy makers, with regard to the Wet Toezicht Accountantsorganisatie (Accountants Supervisory Act). The board is composed as follows:
The criteria for reward and assessment of the Board members in 2015, are the same as those for other partners. All members/shareholders receive a connection fee, based on their entitlement in the group, and in principle this is the same for all shareholders. In the case of excess profit, an extra bonus may be awarded, depending on the KPIs achieved. Quality is an important part of determining whether the KPIs have been realised in a given year. The Board members receive a fixed amount from the excess profit. Furthermore, the KPIs realised by the Executive Board are multiplied by factor 1.5. The individual KPIs are:
From 1-1-2016, the Supervisory Board will be responsible for assessment of Board members, and determining the Board members’ remuneration.