Nuffic’s Board of Trustees
18 Aug 2008
Nuffic’s corporate governance structure is based on the principle of transparent accountability for strategy, performance and risk. There is a strict division of tasks, responsibilities and authority between internal supervision and senior management.
This division ensures that the interaction between the day-to-day management and the trustees is efficient and effective. The Board of Trustees is composed of no more than seven members and its role is to advise management and to supervise the general running of the organization.
It also has the task of signing off Nuffic’s annual financial statements and the annual report. The budget and the annual plans for the organization’s activities also require the approval of the Trustees. The Board of Trustees meets four times a year.
Committees
The Board of Trustees has appointed two committees: the Audit Committee and the Remuneration Committee. The Audit Committee has oversight responsibility for the financial statements, interim reports and the budget, while the Remuneration Committee functions as the employer of the members of the Executive Board.
Vacancies
When vacancies arise on the Board of Trustees, the remaining Trustees are tasked with appointing new members. In their endeavours, they aim to strike a balance of expertise in education in the Netherlands and in the rest of the world, expertise in national or international administration or legal affairs, expertise in finance and business, and expertise in the field of human resource management and employment law.
Members of the Board of Trustees may not also hold a seat on the board – whether in an executive or supervisory capacity – of any higher education institution. The Chair of the Board of Trustees receives an annual remuneration of €3,500, while the remaining members receive €2,500 each.
