Q-Park stands for good corporate governance with proper supervision and transparent reporting. The duties and responsibilities of executive directors, supervisory board members and shareholders are carefully defined. The Q-Park Governance Code, based on the Dutch Corporate Governance Code (DCGC), and the rules applied by the legislator applicable to two-tier board companies are anchored in the articles of association.

The Code offers terms of reference and guidelines for corporate ethics, sound corporate governance and proper supervision thereon. The Code also provides insight into the tasks and responsibilities of the various administrative bodies, the remuneration policy, the provision of information and the organisational structure.

Appointment

From 2012 onwards, supervisors and executives may be appointed for no more than two terms of four years each.

Remuneration

The executive board (EB) presents the remuneration policy for supervisory board (SB) and executive board members to the General Meeting of Shareholders (GMS) for approval. The remuneration of the EB is determined by the SB and tested regularly against that of comparable companies, in order to maintain a competitive remuneration package. The GMS determines the SB members remuneration, which is independent of the company’s results. The GMS is briefed annually on the amount of the remuneration received by the executives.

Gender balance

A temporary provision in the Management and Supervision (Public and Private Companies) Act requires that large enterprises must balance the appointment of men and women or explain why there is no equilibrium and what measures the organisation intends to take to improve the balance. At Q-Park, all members of the EB and four of the five members of the supervisory board are men. The appointments are therefore not evenly distributed across the genders. This unbalanced distribution is not Q-Park’s conscious choice, but is the result of appointing the most suitable person to a vacant position. When an executive position becomes vacant and Q-Park has the choice of appointing a man or woman of equal quality and suitability, the preference will go to a woman.

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