Executive Management. 8.3.1 Rollen en verantwoordelijkheden, samenstelling, structuur en organisatie
Executive Management. The executive management is composed of two members and is led by the Chief Executive Officer. Its members are appointed by the board of directors on the basis of a recommendation by the remuneration and nomination committee. The executive management is responsible and accountable to the board of directors for the discharge of its responsibilities. The executive management is responsible for: being entrusted with the operational leadership of the Company; formulating proposals to the board in relation to the Company’s strategy and its implementation; proposing a framework for internal control (i.e. systems to identify, assess, manage and monitor financial and other risks) and risk management, and putting in place internal controls, without prejudice to the board’s monitoring role, and based on the framework approved by the board of directors; presenting to the board of directors complete, timely, reliable and accurate financial statements, in accordance with the applicable accounting standards and policies of the Company; preparing the Company’s mandatory disclosure of the financial statements and other material financial and non-financial information; presenting the board of directors with a balanced and understandable assessment of the Company’s financial situation; preparing the Company's yearly budget to be submitted to the board of directors; timely providing the board of directors with all information necessary for it to carry out its duties; being responsible and accountable to the board of directors for the discharge of its responsibilities; implementing the decisions made and the policies, plans and policies approved by the board and deal with such other matters as are delegated by the board of directors from time to time.