Structure and Policies
GrandVision has a two-tier governance structure consisting of a Management Board and a Supervisory Board. Currently the Management Board includes two Managing Directors and the Supervisory Board includes five Supervisory Directors.
The Management Board is responsible for the achievement of GrandVision's objectives, including those related to the areas of strategy, policy, quality and sustainability and the day-to-day running of the company. In performing its duties, the Management Board is guided by the interests of GrandVision and all its stakeholders.
The Supervisory Board supervises GrandVision's overall performance, including the policies pursued and results achieved by the Management Board. It monitors the company's financial situation and reviews the financial statements and the strategy pursued by the Management Board. It approves important proposals for capital expenditures, acquisitions, divestments and changes to financial and other corporate policies, as well as the annual budget and long term plan.
The Supervisory Board also has responsibility for evaluating the performance of the Management Board and the individual Managing Directors. It proposes any changes to the composition of the Management Board which it deems necessary to the General Meeting. The Supervisory Board is also responsible for reviewing its own performance and proposing any changes in its composition to the General Meeting. The Supervisory Board ensures that the company's policies are formulated and pursued in the interest of all of GrandVision's stakeholders and that these policies are sustainable and meet the highest ethical standards.
The Supervisory Board appoints an Audit Committee, a Nomination Committee and a Remuneration Committee from among its members. The Supervisory Directors have been carefully selected to ensure that they offer GrandVision a full range of relevant experience in areas such as international retail, customer service, supply chain management and finance.