122
Notes to the Consolidated Financial Statements (continued)
33. Related parties (continued)
Supervisory Board
-
-
Other related party transactions
Raw materials, consumables and services
-
-
Heineken Holding N.V.
FEMSA
Heineken NV.
Report of the
Report of the
Financial
Sustainability
Other
Annual Report 2016
Introduction
Executive Board
Supervisory Board
Statements
Review
Information
The individual members of the Supervisory Board received the following remuneration:
In thousands of EUR
2016
2015
G.J. Wijers
163
160
J.A. Fernandez Carbajal
109
105
M. Das
88
85
M.R. de Carvalho
96
104
A.M. Fentener van Vlissingen
91
85
M.E. Minnick1
28
80
V.C.O.B.J. Navarre
74
70
J.G. Astaburuaga Sanjinés
99
96
H. Scheffers
83
80
J.M. Huët
88
75
P. Mars-Wright2
49
Y. Brunini2
44
1,012
940
1 Stepped down as at 21 April 2016.
2 Appointed as at 21 April 2016.
Mr. Michel de Carvalho held 100,008 shares of Heineken N.V. as at 31 December 2016 (2015: 100,008 shares). As at 31 December 2016 and 2015,
the Supervisory Board members did not hold any of the Company's bonds or option rights. Mr. Michel de Carvalho held 100,008 ordinary shares
of Heineken Holding N.V. as at 31 December 2016 (2015: 100,008 ordinary shares).
Transaction value
Balance outstanding
as at 31 December
In millions of EUR
2016
2015*
2016
2015*
Sale of products, services and royalties
To associates and joint ventures
441
286
95
54
To FEMSA
797
817
170
137
1,238
1,103
265
191
Goods for resale - joint ventures
5
2
Other expenses - joint ventures
370
356
37
24
Other expenses FEMSA
151
197
70
59
526
555
107
83
Revised.
In 2016, an amount of EUR 1,159,905 (2015: EUR 1,047,479) was paid to Heineken Holding N.V. for management services for HEINEKEN.
This payment is based on an agreement of 1977 as amended in 2001, providing that Heineken N.V. reimburses Heineken Holding N.V. for its costs.
Best practice provision III.6.4 of the Dutch Corporate Governance Code of 10 December 2008 has been observed in this regard.
As consideration for HEINEKEN's acquisition of the beer operations of Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA), FEMSA became
a major shareholder of Heineken N.V. Therefore, several existing contracts between FEMSA and former FEMSA-owned companies acquired by
HEINEKEN have become related party contracts.