A joint meeting of the Supervisory Board and
Executive Board on March 12,1998 determined a
profile sketch for the Supervisory Board and this
is available for consultation at the offices of the
company.
The working practices of the Supervisory
Board and its chairman are set down in a regulation.
During the financial year the Supervisory Board
met six times jointly with the Executive Board.
It is intended in the future to meet also periodi
cally without the presence of the Executive Board.
Particular attention was focused on manage
ment development, on a number of international
competitors, partly with an eye to corporate
strategy and on the issue of Corporate
Governance. The Supervisory and Executive
Boards' findings as to recommendations of the
Corporate Governance Committee are contained
in a separate document.
The joint meetings of the Supervisory and
Executive Boards also examined regular topics
including financial results, policy and operating
plans, strategy, investments, acquisitions, evalu
ation of implemented investments, interest and
currency risks, financing, and the outcome of the
Executive Board's evaluation of the configuration
of internal control systems. The annual results
were discussed in the presence of the auditors.
The Preparatory Committee met five times
during the year under review. This committee's
tasks include decisions in the area of remunera
tion. The Audit Committee met twice during
the year under review with the auditors present
at one meeting.
The Supervisory Board paid visits to several
operating companies in Europe.
The Supervisory Board takes this opportunity
to express appreciation for the commitment
shown by the Executive Board and all employees
during 1997.
Amsterdam, March 12, 1998
Hazelhoff
Das
Loudon
Maas
De Ruiter
De Carvalho
Van Vollenhoven
HEINEKEN N.V.
RECOMMENDATIONS
OF THE
SUPERVISORY BOARD
19 9 7
