Committees

Specialised committees

Various committees can be established within the board of directors for specific matters. Currently, the board of directors of Retail Estates nv has set up three committees, a remuneration and nomination committee, an audit committee and a management committee (as of 1 June 2022, replacing the "directiecomité").

Remuneration and nomination committee

The remuneration and nomination committee is made up of the following members:

• Leen Van den Neste – chair of the committee, independent director
• Ann Gaeremynck – independent director
  
• Vic Ragoen

The role of the remuneration and nomination committee is to assist the board of directors by:

• formulating recommendations on the composition of the board of directors and its committees
• assisting in the selection, assessment and appointment of the members of the board of directors
• assisting in determining the remuneration of the members of the board of directors
• preparing the remuneration report

Audit committee

The audit committee consists of the following members:

• Leen Van den Neste – chair of the committee, independent director
• Ann Gaeremynck – independent director
• Dirk Vanderschrick – non-executive director
  

The tasks of this audit committee concern mainly the monitoring of the financial reporting process, the effectiveness of internal control and risk management systems, internal audit monitoring and statutory audit of the individual and consolidated accounts, and assessing and monitoring the independence of the statutory auditor.

Investment committee

The board of directors has set up an investment committee among its members, in accordance with article 7:98 of the Belgian Code of Companies and Associations and in accordance with article 14 of the articles of association.

The investment committee consists of the following members:

• Jan De Nys – chair of the committee, CEO
• Paul Borghgraef –non-executive director, chair of the board of directors
  
• Vic Ragoen – non-executive director
• Dirk Vanderschrick – non-executive director
• Ann Schryvers - independent director

The investment committee is an advisory body of the board of directors and is responsible for providing advice with respect to real estate investment and divestment files presented to the board of directors by the management committee.

Management Committee

The board of directors has set up a management committee, to which it has transferred specific, clearly specified managerial powers. The management committee is an informal committee and not a management board within the meaning of article 7:104 CCA.

The management committee consists of the following persons:

• the Chief Executive Officer (CEO) of the Company, Mr Jan De Nys;
• the Chief Financial Officer (CFO) of the Company, Mrs Kara De Smet;
• the Chief Investment Officer (CIO) of the Company, Mr Koenraad Van Nieuwenburg; 
• the Chief Legal Officer (CLO) of the Company, Mrs Runa Vander Eeckt; and
• the Chief Business Development Officer of the Company, Mr Koen Nevens.

The management committee supports the CEO with respect to the company’s executive management. The management committee discusses with the board of directors and the CEO, and advises them with respect to, the company’s management in accordance with the values, the strategy, the general policy and the budget of the company as determined by the board of directors.”