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Fortis terminates CEO mandate
Posted: 15 July 2008
The Board of Directors of Fortis and Mr Jean-Paul Votron have decided, by mutual agreement and in the interest of the Group, to terminate the mandate of Mr 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 thanked Mr Votron for his commitment to Fortis during the past four years. Further to his departure, Mr Votron will receive a contractual compensation equivalent to his current annual base salary.
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