Activities of the Supervisory Board

In 2015 the Supervisory Board was closely involved in developments related to Beter Bed Holding and its subsidiaries. During the reporting year, the Chairman regularly liaised with the Management Board in preparation for the meetings between the Supervisory Board and the Management Board. The former met with the latter on six occasions. Furthermore, the Supervisory Board also held four conference calls with the Management Board and convened privately on two occasions.

The Supervisory Board received regular, timely, detailed verbal and written updates from the Management Board throughout the year. Extensive attention was paid to the operating results of the various formulas and the group. In the autumn, the Supervisory Board approved the strategy drawn up by the Management Board. The Supervisory Board also visited the updated Matratzen Concord and Beddenreus formulas.

The company met with the external auditor on three occasions. The Supervisory Board was closely involved in the change of auditor that took place in 2015, with PwC Accountants N.V. succeeding Ernst & Young Accountants LLP.

In March 2015, the results for 2014 and the audit findings were discussed. The half-year results were discussed in August 2015, along with the results of the audit of the half-year results conducted by the external auditor.

The budget for 2016, which was discussed during the meeting of 17 December 2015, sets out the company’s operational and financial targets, along with the policy that should ensure that these targets are achieved.

The performance of the Supervisory Board and that of the individual Supervisory Directors, the relationship with the Management Board and the composition of the Supervisory Board were discussed in closed meetings. The performance of the Management Board and the employee benefits policy were naturally on the agenda as well.

After an explanation provided by its Audit Committee, the Supervisory Board discussed the update of the risk assessment process with the Management Board. We believe that the procedures related to risk analysis, risk management, risk control and audits by the external auditor with respect to the AO/IC (Administrative Organisation and Internal Control) provide sufficient certainty for the in-control statement relating to the performance of the risk control and risk management system.

The Supervisory Board was pleased to see that the percentage of women in management positions within the group continued to increase.