ING Groep N.V. (“ING”) today published the proxy materials for its annual General Meeting (AGM), to be held on Monday, 8 May 2017, in Amsterdam. The proxy materials, including the agenda for the AGM, are available on the ING website (www.ing.com/agm).
As announced on 14 March 2017, the agenda for the AGM includes the proposal to appoint Koos Timmermans and Steven van Rijswijk as members of the Executive Board. Upon appointment they will also be members of the Management Board Banking of ING. Koos Timmermans will become chief financial officer as per the end of the AGM, succeeding Patrick Flynn who has decided to pursue his career outside of ING. Steven van Rijswijk will become chief risk officer as of 1 August 2017, succeeding Wilfred Nagel, who will retire as of that date.
ING also proposes to the AGM to reappoint Ralph Hamers, currently CEO of ING, to the Executive Board for a next term of four years. Ralph Hamers was appointed to the Executive Board at the AGM in 2013 and became its chairman and CEO on 1 October 2013.
It is also proposed to the AGM to appoint Jan Peter Balkenende, Margarete Haase and Hans Wijers as members of the Supervisory Board, which was announced on 16 March 2017. Upon decision by the AGM, the appointment of Jan Peter Balkenende and Hans Wijers will be effective as per 1 September 2017. In light of a planned reduction of the total number of her board positions, the appointment of Margarete Haase will become effective at a later date upon decision of the Supervisory Board.
It is the intention of the Supervisory Board to elect Hans Wijers as its chairman to succeed Jeroen van der Veer in that capacity per the end of the AGM 2018. In order to ensure a smooth transfer of responsibilities to Hans Wijers, it will be proposed to the AGM to reappoint Jeroen van der Veer as member of the Supervisory Board for a period of one year, ending as per the end of the AGM 2018.
It will also be proposed to the AGM to reappoint Hermann-Josef Lamberti and Robert Reibestein for a next term of four years as members of the Supervisory Board. After completing her four year term since appointment in 2013, Isabel Martín Castellá will retire from the Supervisory Board at the end of the AGM 2017, having reached the ING age limit for Supervisory Board members.
Full details of all voting items, including the aforementioned proposals, are included in the proxy materials published today. The proxy materials also include the 2016 Annual Report of ING including the Annual Accounts and the reports of the Executive Board and the Supervisory Board as published on 16 March 2017, as well as other information and documents as required by law.
Compliments of ING – a member of the EACCNY