3.5Corporate Governance

In this chapter the broad outline of SBM Offshore’s corporate governance structure is explained, partly by reference to the principles mentioned in the Dutch Corporate Governance Code. This chapter indicates to what extent SBM Offshore applies the principles and best practice provisions in the Dutch Corporate Governance Code. This chapter describes the role of the corporate bodies, the role of the External Auditor and of the Stichting Continuïteit SBM Offshore.

On December 8, 2016 the Corporate Governance Code Monitoring Committee published the revised Dutch Corporate Governance Code (the Code). As the Code was enshrined in Dutch law by the cabinet in 2017, Dutch listed companies are required to report in 2018 on compliance with the revised Code in the 2017 financial year.