The Members’ Council represents all the cooperative’s members; it acts as the communication link between the cooperative’s Executive Board and the members, and provides input and ideas for the cooperative. Furthermore, the Members’ Council is responsible for furthering both the members’ influence and their commitment. In so doing, the Members’ Council ensures the sector exerts a direct influence on PGGM’s policy.
The Cooperative Board
The Cooperative Board is responsible for the identity, mission, vision and the cooperative’s (financial) policy frameworks. The cooperative owns 100% of the shares in PGGM N.V. (the service provider). The Cooperative Board is accountable to the Members’ Council.
The Supervisory Board supervises the performance of the Executive Board and the general day-to-day affairs of the cooperative and its subsidiaries. In its work, the Supervisory Board is assisted by two committees: the Audit, Risk and Compliance Committee and the Remuneration, Selection and Appointments Committee.
The Executive Committee undertakes the day-to-day management of PGGM N.V. The Executive Committee is made up of the people responsible for PGGM’s six business units. The chief executive officer and the chief financial risk officer, who collectively form the Executive Board, are joined in the Executive Committee by the chief of institutional business, the chief marketing officer, the chief investments manager and the chief operations officer.
The Executive Board has ultimate responsibility for PGGM’s day-to-day management. The Executive Board can be called to account by both the shareholder and the Supervisory Board.