Role of the management bodies

Role of the supervisory board

The supervisory board is one of Intervest’s two management entities and is responsible for the company’s general policy and strategy, for all actions specifically reserved for it pursuant to the Companies and Associations Code and the articles of association, and also for supervising the management board.

Intervest’s supervisory board consists of four members, three of whom are independent members. In accordance with Article 7:87 of the Companies and Associations Code, the independent members all meet the nine independence criteria set out in provision 3.5 of the Belgian Corporate Governance Code 2020.

The supervisory board meets at least four times a year.

The main objective of the supervisory board is to strive for sustainable value creation by the company, taking into account both the legitimate interests of shareholders and other stakeholders, by (i) determining the company’s strategy, (ii) achieving effective, responsible and ethical leadership, and (iii) supervising the company’s performance.

The Corporate Governance Charter provides further information on matters such as the role of the supervisory board, the responsibilities and composition of the supervisory board, the profile of the members, the way in which it meets and deliberates, the chairmanship, the tasks, the representation and the method of evaluation.

Role of the management board

In accordance with Article 7:110 of the Companies and Associations Code and Article 17.1 of the articles of association, the management board has the most extensive powers to perform any acts that are necessary or useful to realise the object of the company, except those for which, according to the law or the articles of association, the general meeting or the supervisory board are competent.

The Corporate Governance Charter explains in further detail such matters as the role and powers of the management board, its composition, the chairmanship, the manner of meeting, deliberating and voting, the reporting obligation and the method of evaluation.

The members of the management board are appointed for an indefinite period.