In the year under review the Supervisory and Executive Boards held seven joint meetings. Topics discussed at these joint meetings with the Executive Board included regularly recurring items, among which financial developments, the policy and operating plans of the operating companies and acquisition proposals. In addition, consideration was also given to evaluations of investments made, to interest and currency risks, financing transactions and to internal control systems. The financial results were discussed in the presence of the external auditors. A number of important topics were discussed in depth in the year under review. For example, attention was focused on developments in the beer industry and the trend towards consolidation that is occurring in the industry. Both topics are of importance to the assessment of acquisition proposals. The management development programme was also the subject of detailed discussion. One of the meetings took place at Heineken Italia, where the management team gave a presentation on the beer market in Italy and on the policy of Heineken Italia. The proposal to acquire Cruzcampo in Spain was assessed at a meeting specially convened for this purpose. The Preparatory Committee met six times during the year under review. The Audit Committee met twice, with the external auditors present at one meeting. The Supervisory Board would like to take this opportunity to express its appreciation for the commitment shown during 1999 by the Executive Board and all employees. Amsterdam, March 1, 2000 Hazelhoff Das Loudon Maas De Ruiter De Carvalho Van Vollenhoven HEINEKEN N. V. RECOMMENDATIONS OF THE SUPERVISORY BOARD 19 9 9 7

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 1999 | | pagina 13