New structure of DSM N.V. and foundation of DSM Nederland B.V.
Royal DSM N.V. has recently changed its legal structure. Instead of a company operating under the Large Company Regime applicable in the Netherlands it is now an ordinary public limited company. In this new structure DSM has set up a new holding, DSM Nederland B.V., which will comprise all of DSM's operational activities in the Netherlands, including a consultative framework geared to these activities.
Mr Just Fransen van de Putte has been appointed director of DSM Nederland. He will combine this position with that of director of DSM Limburg B.V., to which he was appointed a year ago. In his first comment he said: "The new structure serves two purposes at corporate level. First of all, the new role of the Annual General Meeting is more in line with today's views on Corporate Governance. Secondly, the new structure does justice to DSM's ongoing internationalization. By setting up DSM Nederland and abolishing the Large Company Regime for DSM N.V. we hope to meet the needs of our shareholders."
Organization of DSM Nederland
Besides a managing director, the new organizational structure of DSM Nederland B.V. includes a Supervisory Board of Directors. Mr Henk van Dalen, member of the Managing Board of Directors of DSM N.V., has been appointed chairman of this Supervisory Board, which further includes Mr Evert Rongen, a former director of DSM Limburg, and Mr Thijs Wöltgens, Chairman of the Board of the Dutch Open University. Mr Wöltgens was appointed on the nomination of the Central Works Council of DSM Nederland.
DSM Nederland B.V. is a wholly owned subsidiary of DSM N.V. The foundation of DSM Nederland will in principle not lead to any changes in the division of responsibilities within the DSM organization. DSM N.V. will continue to be responsible for corporate policy. Also, the business responsibility assigned to the business groups remains unchanged, and the business groups can continue to count on the support of corporate staff departments and services. DSM Nederland will comprise DSM's Dutch-based operating companies and a number of organizations that play a supporting role, such as DSM Limburg B.V., DSM Gist Services B.V. and DSM Research B.V. The Central Works Council will operate at the level of DSM Nederland.
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