In 2004, Royal Schiphol Group began applying most of the principles and best practice provisions of the Corporate Governance Code. These provisions have been incorporated into our articles of association and various internal regulations. In 2023, these regulations were brought in line with the new Corporate Governance Code.
Since 2012, Schiphol has applied, in full, the Code's provisions regarding remuneration to all Management Board members. Each Management Board member's employment contract contains a 'clawback' clause and a provision allowing the Supervisory Board to adjust the variable remuneration retrospectively in certain cases.
All Supervisory Board member are considered independent (provision 2.1.8).