As from the general meeting of 2010 the nomination committee is composed of Herman Daems (chairman), Emile van der Burg and Dirk Boogmans.
As such, it is comprised solely of non-executive board members, one of them independent.
During the financial year 2010-2011 the nomination committee had three meetings. These meetings took place prior to the general meeting of 2010 to discuss the nomination for the board mandates that had become vacant as well as to discuss the size of the board of directors.
Number of meetings and attendances
During the financial year 2010-2011 the nomination committee had three meetings. All members attended those three meetings.
Divergence of best-practice principles 5.3.1. and 5.3.4
The majority of the members of the nomination committee is not independent. The reasoning is that the nomination committee can only provide sound advice if its members have an intimate knowledge of the enterprise and the functioning of the board. Three out of the four independent directors of Gimv were only appointed last year. When composing the nomination committee in July 2010 the board of directors felt it was not expedient to include those new members immediately in the nomination committee. The board of directors plans to adjust the composition of the nomination committee after the general meeting of June.
The nomination committee has no authority to nominate the members of the management committee, the CEO excepted. The CEO is enthrusted with the daily management of the company and has, as such, also the authority regarding the composition of the management.