1. THE EUROPEAN CONFEDERATION OF DIRECTORS ASSOCIATIONS - AVENUE DES ARTS 41 - BRUSSELS 1040

2. Highlights for the introduction to the panel discussion at the EU Conference on Company Law in the Digital Age Transparency is a key ingredient in corporate governance and company law  Fundamental cornerstone for monitoring purposes  Can also be an incentive for companies to comply: sunshine seems to be the best of all disinfectants

3. THE EUROPEAN CONFEDERATION OF DIRECTORS ASSOCIATIONS - AVENUE DES ARTS 41 - BRUSSELS 1040 Highlights for the introduction to the panel discussion at the EU Conference on Company Law in the Digital Age Yet expectations are not met and costs may become very high  Compliance costs as to disclosure requirements are becoming very high  Danger of window dressing  More disclosure does not mean more transparency

4. THE EUROPEAN CONFEDERATION OF DIRECTORS ASSOCIATIONS - AVENUE DES ARTS 41 - BRUSSELS 1040 Highlights for the introduction to the panel discussion at the EU Conference on Company Law in the Digital Age The digital age could solve part of this gap and create a more virtuous information cycle  Accessibility of information  Ease of retrieval  Useful and relevant information  Cost effectiveness  Secure the information libraries

5. THE EUROPEAN CONFEDERATION OF DIRECTORS ASSOCIATIONS - AVENUE DES ARTS 41 - BRUSSELS 1040 Highlights for the introduction to the panel discussion at the EU Conference on Company Law in the Digital Age Challenges for the board in a digital age  Making optimal use of the potential a digital society offers o Is the board innovation proof?  Finding the right level of disclosure o Be compliant with regulatory demands o Be responsive to stakeholders and societal expectations o While not loosing sight of sensitive strategic information  Manage internal and external information channels  Put digital risks and cyber security on the board’s agenda o Is not only a challenge for the IT department

6. THE EUROPEAN CONFEDERATION OF DIRECTORS ASSOCIATIONS - AVENUE DES ARTS 41 - BRUSSELS 1040