Annual Report 2018

Composition of the Supervisory Board and Management Board

The members of the Supervisory Board together represent a broad range of experience and expertise that is in line with the desired Supervisory Board profile in view of GrandVision’s business and complies with the Dutch Corporate Governance Code. The Supervisory Board currently comprises five members, whose profiles are provided under 'Supervisory Board' in the chapter 'Governance'.

All Supervisory Board members qualify as independent, except for Mr. Groot. As permitted by the Dutch Corporate Governance Code best practice provision 2.1.10, Mr. Groot does not satisfy all independence criteria.

At the end of the Annual General Meeting on April 26, 2018, the first term of Kees van der Graaf expired. Mr. Van der Graaf was eligible and available for reappointment and complied with the profile of the Supervisory Board. During the Annual General Meeting of April 26, 2018, Mr. Van der Graaf was re-appointed to the Supervisory Board for an additional term of four years.

Stephan Borchert was appointed to the Management Board on January 15, 2018. The Supervisory Board appointed in its meeting on February 27, 2018 Stephan Borchert as the CEO of GrandVision per February 28, 2018. He succeeded Theo Kiesselbach who retired on May 1, 2018, after 16 years with the Company.

Diversity, including gender, remains an important

consideration in the selection process for the appointment and reappointment of Management Board and Supervisory Board members.

At the same time, quality, expertise and experience remain the key priorities. Diversity in the broad sense is a topic on the Supervisory Board agenda.