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The Supervisory Board meets to discuss and approve major decisions on management and strategy. It oversees the financial management of the company and has a primary role to play in ensuring that operational and financial objectives are achieved. It has responsibility in areas such as risk management and control systems, financial reporting and compliance with all applicable laws and regulations. The Supervisory Board publishes a report on its activities and meetings once every financial year.
Under Dutch law, the Supervisory Board must be independent of the Board of Management and the Executive Committee. This means Supervisory Board members may not be employees of the company, or members of the Board of Management or Executive Committee. This also ensures that management and all AkzoNobel stakeholders have the benefit of an independent viewpoint and voice on major decisions affecting the ongoing success of the company.