Supervisory Board statement
The year 2013 has been a challenging year for Corio. In a period in which valuations are under pressure and the nature of shopping is evolving at a rapid pace Corio has been increasing its focus on Favourite Meeting Places and disposing of its Traditional Retail Centres. This affects not only the Supervisory Board and Management Board but also Business Unit management teams and Corio’s personnel.
In the meetings with the Management Board in 2013 the Supervisory Board has primarily focused on monitoring and executing the strategy and the budget. Corio’s CSR strategy is aligned with the company strategy, as it enhances performance and is aimed at value creation. It makes good commercial sense and strengthens Corio’s business for the future.
Although the economy is showing slight signs of recovery there are still challenges ahead. The Supervisory Board believes that with the measures taken in 2013 and its current focus Corio will be able to face and successfully manage the challenges in 2014.
Utrecht, 17 February 2014