Change in the composition of the Supervisory Board of de Volksbank

The Annual General Meeting of Shareholders (AGM) of de Volksbank N.V. (de Volksbank) and de Volksholding B.V. (de Volksholding) was held on 20 April 2017. At the close of this meeting, Jos Nijhuis resigned from the Supervisory Board of de Volksbank and de Volksholding (Supervisory Board).

To ensure continuity and knowledge within the Supervisory Board, it has been decided to spread the terms of (re)appointment more evenly over time. In connection with this, Jos Nijhuis has resigned from the Supervisory Board and Monika Milz has been reappointed to the Supervisory Board in accordance with the enhanced right of recommendation of de Volksbank’s Works Council, both with effect from today.

Jos Nijhuis was reappointed to the Supervisory Board on 6 June 2013, as were Charlotte Insinger and Ludo Wijngaarden. In accordance with the resignation schedule of the Supervisory Board, their term of appointment would expire on the date of the first AGM to be held after June 2017. In principle, the new Corporate Governance Code, which came into effect on 1 January 2017, prescribes two terms of appointment. Consequently, these three members of the Supervisory Board are not eligible for reappointment as all three members have already served two terms of office. The reappointment of Jan van Rutte will come up for discussion at the AGM in 2018.

De Volksbank expects to be able to announce who will succeed Jos Nijhuis in the Supervisory Board shortly.

“I would like to thank Jos Nijhuis for his great commitment and dedication as fellow supervisory board member of de Volksbank and its predecessors. He fulfilled the role of supervisor since 2009, and also provided advice and counsel to the Board of Directors on strategy at all times. Moreover, in his role as Chairman of the Audit Committee, he provided expert advice to the board on audit-related topics,” says Jan van Rutte, Chairman of the Supervisory Board of de Volksbank.

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