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Corporate Governance

As a large company with an important civil role in Dutch society and with the Dutch State as the only shareholder, we are keen to underline the importance of openness and transparency. While not a listed company, NS voluntarily abides by the Dutch Corporate Governance Code.

Corporate Governance at NS

Within NS, the Corporate Governance Code is embedded in the regulations for the Executive Board, the Board of Commissioners, the Audit Committee, the Compensation Committee and the Nomination Committee, as well as the NS Code of Conduct and its Integrity Reporting Scheme. As NS is not a listed company, nor does it have a one-level management structure, the Corporate Governance Code does not apply to some aspects of the company.

NS suppliers and partners may report violations of the NS Code of Conduct via the Integrity Helpdesk.NS customers can report any complaints or abuses to NS Customer Service.

Risk and risk management

Risk management and internal monitoring gives the Board of Directors insight into the status and the development of the management of risks to NS.


On behalf of the Board of Commissioners, the Audit Committee is directly responsible for the supervision of the external accountants work.