Dutch governance laws kick in

Publicatiedatum: 6 maart 2005
Dutch governance laws kick in.
Efforts to clean up corporate governance in the Netherlands have led to spectacular improvements, propelling the country towards the top of a global league table. Dutch regulators have imposed a tough new corporate governance code with the result that ratings for the country, devised by GovernanceMetrics International, a specialist corporate governance consultancy, have risen by 50 per cent in two years. This outstrips improvements in other countries, lifting the Netherlands to sixth place in the table, with the UK in top position followed by Canada and the US. ........ Dutch companies achieved the highest corporate governance scores in continental Europe, averaging 6,45 compared to 4,20 in 2003. … the highest scores in continental Europe was 9,5 awarded to Dutch Groups Reed Elsevier, Buhrmann, TPG and Unilever. Dutch improvements appeared directly linked to the passing into law of the Tabaksblat Code which compelled Dutch companies to include in their annual reports a section on corporate governance and to explain any failures to comply with the code. “The Dutch Code shows just what can be done”, said mr. Anderson (GMI). It has many common features with Sarbanes-Oxley (the US corporate governance code) and the potential is now there for Dutch companies to score even higher”. Financial Times/6 maart 2005.

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