Corporate governance
Corporate governance
Royal Ahrend is a private limited liability company governed by Dutch law. Royal Ahrend has a two-tier management structure with a Board of Directors and a Supervisory Board. Royal Ahrend qualifies as a ‘large company’ (structuurvennootschap) within the meaning of the Dutch Civil Code and is subject to the relevant rules of Dutch corporate law.
Shareholders
HAL Trust, a Bermudian Trust, is the ultimate parent company and controlling party of Royal Ahrend (Koninklijke Ahrend BV). The financial and sustainability data of Royal Ahrend are included in the consolidated statements of both HAL Trust and HAL Holding NV. HAL Holding NV’s registered address is in Willemstad, Curacao and its office is located in Rotterdam, Netherlands. The consolidated financial and sustainability statements of HAL Trust and HAL Holding NV are available at cost price at the office of HAL Holding NV and the statements of HAL Trust are also available via the website www.halholding.com.
Board of Directors
The Board of Directors of Royal Ahrend manages the strategic, commercial, sustainability, financial and organisational matters on a daily basis. An important goal is to create value, not only for our shareholders, but also for our customers, employees and society.
In late 2023, the Supervisory Board promoted Rolf Verspuij to CEO of Royal Ahrend. After a careful external search and selection process, Claudia Mennen was appointed as the new CFO of Ahrend on April 1, 2024.
On 31 December 2024, the Board of Directors consists of the following members:
- R.M. Verspuij (CEO and Statutory Director)
- C.M.P. Mennen-Vermeule (CFO and Statutory Director)
Rolf Verspuij
*1977, the Netherlands
2012 Joined as CFOO
2023 Appointed CEO
Rolf Verspuij has been CEO of Royal Ahrend since 2023, where he works alongside a global team to design, manufacture and refurbish sustainable office furniture.
Prior to this, he was CFO at Royal Ahrend since 2012 and held various positions at Royal Gazelle, Lampenier and V&D. Rolf has also been a member of the Supervisory Board at BrabantZorg since 2018.
Claudia Mennen
*1973, the Netherlands
2024 Joined as CFO
Claudia Mennen has been CFO of Royal Ahrend since 2024, where she plays a key role in shaping the financial strategy and driving the company’s mid-term plan, MTP 2027.
She began her career over 25 years ago as an auditor at PwC and went on to hold various executive positions at Dockwise, Green Gas and BrandLoyalty. Claudia also serves as a supervisory board member at Efteling and Enstall.
Supervisory board
Supervisory Board
The Supervisory Board consists of the following members on 31 December 2024:
Joost Van Meerbeeck
*1964, Belgium
2013 Joined as chair
2018, 2022 Re-elected
2026 Current election period expires
Extensive and long-term experience in international finance and business, knowledge of corporate governance and investor relations. Including McKinsey, HAL Investments, Royal Ahrend. Created SUSTINVEST and nowadays working in an advisory role at HAL and as a non-executive board member at a number of HAL subsidiaries, other companies and investment funds.
Ard Vink
*1977, the Netherlands
2016 Joined
2020, 2024 Re-elected
2028 Current election period expires
Strong international background shown in 20+ years of experience in long-term investing in listed and non-listed organizations. Extensive knowledge of businesses in his role as executive and non-executive board member in various industries.
Peter Doodeman
*1956, the Netherlands
2018 Joined
2023 Re-elected
2027 Current election period expires
Strong international background in innovation, marketing, sales and production of fast moving consumer goods, whereby significant growth was achieved in marketshares and profitability. Managed several reorganisations and realised organic growth through acquisitions. Leadership growth and development has been key throughout his career.
Mayte Oosterveld
*1974, the Netherlands
2023 Joined
N/A Re-elected
2027 Current election period expires
All-round finance professional, with international experience and strong strategic, M&A and legal skills. Prior to becoming CFO at Just Eat Takeaway.com she started her career in investment banking at Goldman Sachs and spent 15 years in food retail, with M&A and finance roles at Ahold Delhaize and as CFO at PLUS Supermarkets.
Ivanka Janssen
*1956, the Netherlands
2023 Joined
N/A Re-elected
2027 Current election period expires
Seasoned Chief Supply Chain Officer (CSCO) with over 25 years of international leadership experience across industries. Her expertise includes operations, manufacturing, supply chain, digital transformation and innovation management.
Ivanka Janssen was appointed CSCO at Swarovski in July 2023. Prior to joining Swarovski, she held positions at Philips, PepsiCo, Diageo and Philip Morris.
Word from the supervisory board
Word from the Supervisory Board
The Supervisory Board of Royal Ahrend reviewed the annual reporting 2024 prepared by the Board of Directors. PricewaterhouseCoopers Accountants N.V. audited the statutory reporting and provided an independent auditor’s report. The Supervisory Board advised the General Meeting of Shareholders to approve the annual reporting 2024 and discharge the Board of Directors.
The Supervisory Board supervises the Board of Directors and the general affairs of the company and its affiliated companies. It closely monitors the execution of the strategy. The Supervisory Board is actively involved and provides management with advice when deemed necessary.
Developments and financial results
In late 2023, the Supervisory Board promoted Rolf Verspuij to CEO of Royal Ahrend. After a careful external search and selection process, Claudia Mennen was appointed as the new CFO of Ahrend on April 1, 2024.
The financial year 2024 was the first year of the new mid-term plan. Focus was on strategic sales and revived and circular activity, increasing own product share, operational stability, including operation of the new wood hub in Prague, and cost control. This focus and targeted action led to a strong overall result, despite lower volumes.
During 2024, the Supervisory Board members received management reporting of Royal Ahrend on a monthly basis. The financial performance, progress towards realisation of the mid-term plan, operational challenges and expectations for the future were discussed at SVB-meetings.
Activities
The Supervisory Board held five meetings during the financial year in addition to other moments of contact regarding significant topics, such as the selection and implementation of the new ERP-system. The independent auditor attended the SVB-meeting of April 2024 to discuss the financial results of 2023. In addition, the independent auditor attended all three meetings of the Audit Committee to discuss the annual reporting 2023, audit plan 2024 and the management letter 2024.
The following decisions have been made by the Supervisory Board (not limitative):
- Approval annual reporting 2023
- Approval profit appropriation 2023
- Approval budget 2025
- Approval choice of new ERP-supplier
Reflection of the Board
In absence of the Board of Directors, the Supervisory Board both discussed the performance of the Directors and assessed its own.
The Supervisory Board is grateful to both management and employees of Royal Ahrend for their dedication and effort during the past year.
J.L.M. Van Meerbeeck
(Chairman)