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Governance Structure

Executive Board

The daily management and strategic development of Triodos Bank lies with the Executive Board. The Executive Board is formally responsible for the management of Triodos Bank and the members are appointed by the Supervisory Board.

Supervisory Board

Triodos Bank has a Supervisory Board, which monitors the Bank’s business operations and advises its Executive Board, to benefit its business interests. New members of the Supervisory Board are appointed by the Annual General Meeting, based on recommendations from the Supervisory Board.

SAAT – Foundation for the Administration of Triodos Bank Shares

Triodos Bank believes it is crucial that its mission and identity is protected. As a result, all Triodos Bank’s shares are held in trust by SAAT – the Foundation for the Administration of Triodos Bank Shares. SAAT then issues depository receipts for Triodos Bank shares to the public and to institutions. These depository receipts embody the economic aspects of the shares of Triodos Bank NV. In addition, it exercises the voting rights for the Triodos Bank NV shares. The Board of SAAT’s voting decisions are guided by the Bank’s ethical goals and mission, its business interests, and the interests of the depository receipt holders. Triodos Bank depository receipts are not listed on any stock exchange. Instead, Triodos Bank maintains its own platform for trading in depositary receipts.

More information about Triodos Bank’s Boards is available at and at the end of the Corporate Governance chapter of the audited, English language version of the annual report.