The duties and responsibilities of Supervisory Boards have evolved in recent years. This is especially true in the case of governance, with themes such as succession planning, talent reviews, diversity and inclusion becoming increasingly important. Because of this development,more emphasis is placed on the role of the Nomination Committee. However, it is unclear whether its position has evolved accordingly.
To answer this question, the International Center for Financial Law & Governance (ICFG) of the Erasmus University Rotterdam, in cooperation with Spencer Stuart,conducted a study into the changing role of the Supervisory Board and Nomination Committee. The research is divided into four parts: (i) a legal framework, (ii) an analysis of annual reports over the year 2020, (iii) an online survey and (iv) ten in-depth interviews with supervisory and non-executive board members. The study ends with an overview of the conclusions, validated through each of the four parts, and several recommended tools which provide a starting point for discussions among board members to bring their own role regarding nomination to a higher level.
The ICFG (International Center for Financial law & Governance) is the multidisciplinary research centre of the Erasmus School of Law in the field of financial law and governance. The ICFG's ambition is to bring together national and international academics, professionals and students in order to achieve a high-quality exchange of knowledge and experience in the field of financial law and governance at financial enterprises and other parties in the financial markets. The ICFG series contains publications that reflect the research activities of the ICFG and its researchers.