The supervisory board of Delta Lloyd NV (here-in-after: Delta Lloyd Group) plans to appoint Emiel Roozen as the new chief financial officer of Delta Lloyd Group.
The supervisory board of Delta Lloyd NV (here-in-after: Delta Lloyd Group) plans to appoint E A A (Emiel) Roozen as the new chief financial officer of Delta Lloyd Group. Emiel Roozen will succeed P J W G (Peter) Kok who is stepping down on 27 May for health reasons. The supervisory board will notify the shareholders of the proposed appointment of Emiel Roozen with a view to the general meeting of shareholders to be held on 27 May 2010.
Peter Kok has been with Delta Lloyd Group since 1999, the past nine years as CFO within the executive board. Due to health problems that have recently emerged, it has become impossible for Peter Kok to continue fulfilling his duties as CFO. For this reason, he has decided after joint consultation to step down as CFO.
René Kottman chairman of the supervisory board of Delta Lloyd Group: "We find it very sad that Peter Kok's health is forcing him to resign. We understand and respect Peter Kok's decision to step down, but regret losing such a wise and amicable member of the executive board who made a major contribution to the development of our company.
"With his great commitment, he played an important role in the floatation of Delta Lloyd Group. We are delighted to have found Peter's successor so quickly within Delta Lloyd Group in the person of Emiel Roozen; this demonstrates the strength of Delta Lloyd Group."
Appointment of Emiel Roozen
Emiel Roozen has been chairman of Delta Lloyd Levensverzekering NV (Delta Lloyd Life Insurance) since 2008 and joined Delta Lloyd Group in 2002. Emiel Roozen studied business administration and then went on to do a post-degree programme for register accountant.
Before joining Delta Lloyd Banking as CFO in 2002, he worked for almost 10 years as a register accountant at PricewaterhouseCoopers. Since 2007 he has been a board member of Delta Lloyd's life insurance business, and was appointed chairman of that board in 2008. Initially, his tasks and responsibilities as chairman of Delta Lloyd Life will be taken over by Onno Verstegen, chairman of Delta Lloyd Insurance.
In conformity with the guidelines of the Dutch Corporate Governance Code, Emiel Roozen is appointed for a period of four years and under the conditions of employment applicable to members of the Executive Board of Delta Lloyd Group. The outlines of the employment contract will be published with the agenda of the forthcoming general meeting. The terms and conditions are also posted on the Delta Lloyd Group website. The appointment is subject to the approval of the competent regulator and advice from the Central Works Council.
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Contact:
Delta Lloyd Group
Media relations, David Brilleslijper +31 (0) 20 594 44 88
Investor relations, Rozan Dekker +31 (0) 594 96 93
Notes to editors:
About Delta Lloyd Group
Delta Lloyd Group is a financial services provider offering life insurance, general insurance, fund management and banking products and services. Delta Lloyd Group's target markets are the Netherlands and Belgium. In the Netherlands it mainly operates under the brand names of Delta Lloyd, OHRA and ABN AMRO Insurance, in Belgium under the Delta Lloyd brand.
Delta Lloyd Group's goal is to be recognised as the most reliable and highly regarded insurer and financial services provider in its targeted markets, offering customers security through risk assurance, income protection and wealth creation. In the medium term, Delta Lloyd Group aims to become one of the three largest insurance companies in the Dutch market and one of the five largest insurance companies in the Belgian market.
Delta Lloyd Group believes that the strategy will be successful in enhancing shareholder value and enabling Delta Lloyd Group to deliver long-term benefits to all of its stakeholders: customers, shareholders, distribution partners, employees, suppliers and the community at large.
Annex: Severance terms for Peter Kok
Because Peter Kok was appointed to the executive board in 2001, ie well before the current Dutch Corporate Governance Code entered into force, he still has an employment contract for an indefinite period and is eligible for the conditions pertaining to this contract.
This means that the severance payment (€960,000) that Peter Kok will receive upon termination of his employment at the end of 2010 is based on his total period of service at Delta Lloyd Group and corresponds with two annual basic salaries. Peter Kok will receive no further variable or share-based compensation for 2010 and subsequent years; the shares granted earlier this year under the Group Performance Share Plan will also be cancelled.
The options already granted for the years 2006 to 2008 can be exercised until 31 December 2011, the options from 2009 are exercisable until 31 December 2012.