“Corporate Governance” is the term for a set of processes, customs, policies, laws and institutions that stipulate the way a corporation (or company) is directed, administered or monitored.

Nowadays, companies face ever deeper and faster changes. These changes are the cause and effect of scientific and technological developments that affect companies and their social environment in many different ways. Naturally, these changes also offer opportunities, but in order to seize these and to manage the associated risks, it is imperative to build up an internal system of efficient and effective management activities. A lack of Corporate Governance can easily harm a firm, but also damage a complete branch or even business in general.

Therefore in the past few years, many countries have formulated standards of good practice — either individually or on an international scale. In May 2003, the European Commission adopted a Company Law Action Plan, urging all member states to draw up a code of good practice. This code provides stringent regulations; enterprises which do not comply must be able to substantiate their actions. The Dutch equivalent of the British "Combined Code on Corporate Governance” is called Code Tabaksblat.

Far West is an exceptional housing association with a specific mission: urban regeneration in Amsterdam Nieuw West. Far West aims to create viable communities, propagating effectiveness as well as commitment, and our innovative vision serves as the driving force behind our actions. Rather than developing and managing ourselves, we intend to guide and direct commissioned parties, such as developers and aligned housing associations.

The Members’ Council consists of 3 representatives; one for each of the three housing associations — Stadgenoot, De Key and Rochdale — that have entrusted their Nieuw West-stocks to Far West. The Supervisory Board consists of 5 members. The Managing Director is Mr. Jacques Thielen. The number of staff is equivalent to approximately 23 FTE.