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Foundation for the Administration of Triodos Bank Shares
The share capital of Triodos Bank has been entrusted to the independent Foundation for the Administration of Triodos Bank Shares (Stichting Administratiekantoor Aandelen Triodos Bank (SAAT)). To finance the shares, SAAT issues depository receipts. Depository receipt holders benefit from the economic rights associated with these shares, such as the right to dividends, but do not exercise any control related to them. Control rights are vested in the SAAT. In exercising its voting right at the General Meeting of Triodos Bank, the Board of SAAT upholds the following principles:
- safeguarding Triodos Bank’s mission;
- safeguarding Triodos Bank’s independence;
- safeguarding the economic interests of the depository receipt holders, which relates to Triodos Bank’s continuity and profitability, dividends, and the development of the value of depository receipts. The Board of SAAT aims to align the economic interests of its depository receipt holders and Triodos Bank’s mission, for their mutual benefit. This is reflected by the following stipulations in SAAT’s administrative conditions:
The foundation shall independently exercise the voting rights attached to the shares owned by it. In doing so, it shall be guided by the interests of the depository receipt holders and the interests of the Bank, as well as by the principles expressed in the objects of the Bank. For an overview of the shares taken in trust and the issued depository receipts of Triodos Bank, as at 31 December 2012, please refer to page 139 of the annual report 2012.
Board of SAAT
ms. J.G.J.M. de Zwaan (1963), Chair
Josephine de Zwaan is also a Member and Chair of the Supervisory Board of Stichting Triodos Holding. She was a lawyer for more than thirteen years, specialising in major real estate projects. During the last five years of that period, she was a member of the partnership (CMS) Derks Star Busmann, where she was in charge of a team of real estate lawyers. Although no longer acting as a lawyer, she is still involved in this firm as an advisor to the board. Since 2000 she has acted in administrative and supervisory roles in education, health care and culture in particular (Hogeschool Leiden, Stichting Vilans, Raphael bureau, Promotie podiumkunsten, Iona Stichting and Academy for Liberal Arts). In 2009 Josephine de Zwaan was appointed Arbitrator for the Arbitration Tribunal Foundation for Health Care and Member of the Governance Committee of the Arbitration Board for Health Care. In 2013 she was also appointed as a Member of the Supervisory Board of Stichting Cito.
Josephine de Zwaan was first appointed in 2010 and her present term expires in 2016. She is of Dutch nationality and does not own any Triodos Bank depository receipts.
ms. M.E. van Boeschoten (1946)
Marjatta van Boeschoten was previously on the Triodos Bank Supervisory Board from 2001 to 2009. She was a lawyer of the Supreme Court in England for seven years before becoming a management development consultant. She is Director of Phoenix Consultancy and works with large organisations in the public and private sectors in the UK. She is General Secretary of the Anthroposophical Society in Great Britain.
Marjatta van Boeschoten was first appointed in 2009 and her present term expires in 2015. She is of British nationality and owns 1 Triodos Bank depository receipt.
ms. S. Castañeda Elena (1974)
Sandra Castañeda Elena is currently Senior Advisor Sustainability at Inditex S.A. (owner of Zara). She has helped integrate environmental and social criteria into the business strategies of companies and academic institutions, in different positions since 2005. Previously, she was part of the core team setting up Triodos Bank in Spain.
Sandra Castañeda Elena was first appointed in 2013 and her present term expires in 2016. She is of Spanish nationality and owns 49 Triodos Bank depository receipts.
mr. F.A. de Clerck (1945)
Frans de Clerck is a co-founder of Triodos Bank Belgium (1993) and a former Member of the Executive Board of Triodos Bank NV. He is a Member of the Supervisory Board of Stichting Triodos Holding, and a Member of the Board of Boss Paints NV, the Hélène De Beir Foundation and chair of the Supervisory Board of WZC De Foyer vzw in Belgium.
Frans de Clerck was first appointed in 2010 and his present term expires in 2016. He is of Belgian nationality and owns 6 Triodos Bank depository receipts.
mr. J.T.M. Nijenhof (1945)
Jan Nijenhof is also a Member of the Supervisory Board of Stichting Triodos Holding. He was Coordinating Vice President of the District Court of Haarlem until 1 April 2010. He has been a substitute judge in the same court and in the District Court Oost Brabant ever since. Jan Nijenhof is also a Member of the Appeals Tribunal for Higher Education.
Jan Nijenhof was first appointed in 2005 and his present term expires in 2014. He is of Dutch nationality and does not own any Triodos Bank depository receipts.