The Board of Directors of Fortis and M. Jean-Paul Votron have decided, by mutual agreement and in the interest of the Group, to terminate the mandate of M. Jean-Paul Votron as Fortis CEO.
Herman Verwilst, currently Fortis deputy CEO and executive member of the Board, has agreed to take over the Group CEO function. The board is convinced that Herman Verwilst, given his longstanding experience in Fortis, is well equipped to lead the company in these challenging times and environment.
The Board has decided to start an executive search within, and outside, the company for the future succession of the CEO.
These decisions can only become official pending approval by the financial regulators CBFA in Belgium and DNB in the Netherlands.
The members of the Board wish to thank M. Votron for his commitment to Fortis during the past four years. He has made a crucial contribution to the development of Fortis and has transformed the company, thanks to important strategic decisions, into a more international group. The Board has always, jointly and in confidence, supported the plans proposed by the management under his leadership. In this respect, we refer a.o. to the acquisition of ABN AMRO and the recent solvency plan. Further to his departure, M. Votron will receive a contractual compensation equivalent to his current annual base salary.
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