SBM Offshore Annual Report 2011 - PDF

Organisation
A new organisation has been designed by the Board of Management and is in the implementation phase. The
Supervisory Board took a close interest in the new organisation which focuses on effective delegation and
devolved accountabilities, especially as regards project development and execution.
Operating Plan 2012 and Strategic Plan 2012-2016
A full meeting was dedicated to the Company’s Operating Plan 2012 and the 2012-2016 Strategic Plan developed
by the Management Board which included input provided by senior management at a two day strategy seminar.
The plan focuses on the strategy of the Company for achieving long-term growth and enhancing shareholder
value, including new products and markets, contracting structures and finance strategy.
Financing of the Company and the Global Financial Crisis
The Audit Committee and the Supervisory Board received regular reports from the Board of Management on the
status of the Company’s finances, its access to funding and on the effects of the global financial crisis on the
Company’s operations. Alternative financing structures were reviewed and the Company’s exposure to banks and
countries was analysed.
Sustainability (CSR)
Sustainability is part of the Technical and Commercial Committee’s remit.
The Technical and Commercial Committee received reports on Health, Safety, Security and Environment matters
at each of its meetings and reviewed the Company’s CSR report of 2010. Key issues and actions arising were
reported to the Supervisory Board.
2.1.6 Personal details and independence of the Supervisory
Directors
The personal details, gender, term of (re)appointment and other board positions of each Supervisory Director are
described in the Information section of this report.
The Supervisory Board confirms that all members who served during the year are independent as defined under
BP IIII.2.2 of the Corporate Governance Code.
This is a customized selection from the SBM Offshore N.V. Annual Report 2011
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