Dutch Corporate Governance Code
DSM supports the Dutch Corporate Governance Code, which was most recently amended in 2016 and is applicable as of the financial year 2017. The Dutch Corporate Governance Code can be found on www.commissiecorporategovernance.nl.
DSM ensures its continued compliance with the Dutch Corporate Governance Code, and has worked on implementing the amendments in its internal regulations and practices where applicable. The last step in this process will be the amendment of DSM's Articles of Association, for approval by the 2018 General Meeting of Shareholders.
Long-term value creation is embedded in both DSM's Strategy 2018: Driving Profitable Growth and the company's culture: our mission is to create brighter lives for people today and generations to come. Sustainability is at the core of how we fulfill that mission, and to achieve this, DSM considers People, Planet and Profit in all we do. With our Strategy 2018, we drive our business and innovation strategies in order to address the challenges of nutrition & health, climate & energy and resource scarcity. More information on how long-term value creation is fundamental to our strategy and culture can be found in the Strategy and People sections of this annual report, as well as on How DSM creates value for its stakeholders and on DSM and the Sustainable Development Goals.
With respect to the appointment of members of the Managing Board for a period of at most four years (Best Practice 2.2), it should be noted that DSM has adhered to this Best Practice since the introduction of the Dutch Corporate Governance Code in 2004. Since DSM respects agreements made before the introduction of the said code, the current Chairman of the Managing Board will remain appointed for an indefinite period.
Any substantial change in the corporate governance structure of the company and in the company's compliance with the code shall be submitted to the General Meeting of Shareholders for discussion under a separate agenda item.
All documents related to the implementation of the Dutch Corporate Governance Code at DSM can be found in the 'Corporate Governance' section of the company website.