NN Group is managed by a disciplined, highly motivated and experienced team. The members of NN Group's executive team on average have over 22 years of experience in the financial services industry and had significant and varied roles in the financial services industry. The executive team comprises of a strong combination of new members, and members who have long tenures with NN Group and its previous parent company ING Group, and as a result a deep knowledge of NN Group’s business. The team has developed NN Group’s strategy and is committed to its execution and implementation going forward.
NN Group recognises the importance of good corporate governance. The governing bodies comprise of a statutory Executive Board (Raad van Bestuur), a Management Board and a Supervisory Board (Raad van Commissarissen). The Executive Board is entrusted with the management, the strategy and the operations of NN Group under the supervision of the Supervisory Board. Currently, the Executive Board consists of one member, Delfin Rueda, chief financial officer. The Supervisory Board intends to appoint David Knibbe, currently CEO of NN Netherlands, as member and chair of the Executive Board and chief executive officer. This appointment is subject to approval from the Dutch Central Bank and, if approved, will be effective 1 October 2019, after notification of the General Meeting of NN Group at an extraordinary general meeting to be held on 26 September 2019.
The Management Board is entrusted with the day-to-day management of NN Group and the overall strategic direction of NN Group. In performing its duties, the Management Board must carefully consider and act in accordance with the interests of NN Group and its associated business, taking into consideration the interests of all the stakeholders of NN Group. The members of the Management Board acknowledge that the authority to manage NN Group is vested in the Executive Board as a whole, notwithstanding that each of the members of the Management Board is responsible and accountable towards the Executive Board and within the Management Board for the specific tasks as assigned. The Management Board, through the Executive Board, is required to keep the Supervisory Board informed on important matters and the members of the Management Board will attend Supervisory Board meetings if so requested.
As per 12 August 2019 the Management Board of NN Group consists of:
* Intended appointment as member and chair of the Executive Board and CEO NN Group, effective 1 October 2019, subject to approval from DNB and notification to the General Meeting of NN Group on 26 September 2019
As per 29 May 2019 the Supervisory Board of NN Group consists of:
The Executive Board has drawn up and adopted a Charter for the Management Board which includes the duties, powers and working methods of the Management Board and information on the Management Board’s relationships with the Executive Board, the Supervisory Board (through the Executive Board) and shareholders. The Management Board Charter was acknowledged by the Management Board and should be read in conjunction with the Executive Board Charter.
download the Management Board Charter
With the approval of the Supervisory Board, the Executive Board has drawn up a Charter which includes its duties, powers and working methods of the Executive Board and information on the Executive Board’s relationships with the Management Board, the Supervisory Board and shareholders.
download the Executive Board Charter
Supervisory Board Charter
The Supervisory Board of NN Group is responsible for advising and supervising the Executive Board, the general course of affairs of NN Group and the businesses connected with it. The Supervisory Board has drawn up a Charter which includes its duties, powers and working methods and information on its relationships with the Executive Board (and indirectly the Management Board), the shareholders and the Works Council.
download the Supervisory Board Charter
Rotation Schedule Supervisory Board
|| Year of birth
|| Date of appointment4
|| Termination - reappointment date
| David Cole
||1 January 2019
| Heijo Hauser
||7 July 2014
| Hans Schoen
||7 July 2014
| Hélène Vletter-van Dort1
||6 October 2015
| Dick Harryvan
||2 February 2016
| Robert Jenkins
||2 February 2016
| Robert Ruijter2
||1 June 2017
||1 June 2017
1) Works Council nominee
2) Works Council nominee and former chair of the Supervisory Board of Delta Lloyd N.V. Rob Ruijter is one of the Continuing Members who will monitor and protect the interests of Delta Lloyd’s stakeholders. His term of appointment will end on 12 April 2020.
3) Former member of the Supervisory Board of Delta Lloyd N.V. Clara Streit is one of the Continuing Members who will monitor and protect the interests of Delta Lloyd’s stakeholders. Her term of appointment will end on 12 April 2020.
4) Average tenure in years: 3
The Supervisory Board has established from among its members four committees, (i) the Audit Committee, (ii) the Risk Committee, (iii) the Nomination and Corporate Governance Committee and (iv) the Remuneration Committee. The function of these committees is to prepare the discussion and decision making of the Supervisory Board.
The Audit Committee assists the Supervisory Board in monitoring the integrity of the financial statements of NN Group, in monitoring the compliance with legal and regulatory requirements and in monitoring the independence and performance of NN Group’s internal and external auditors.
The members of the Audit Committee are Mr. J.W. Schoen (Chair), Mr. D.H. Harryvan, Mr. H.J. Hauser, and Mr. R.A. Ruijter.
download the Audit Committee Charter
The Risk Committee assists and advises the Supervisory Board in monitoring the risk profile of NN Group as well as the structure and operation of the internal risk management and control systems.
The members of the Risk Committee are Mr. H.J. Hauser (Chair), Mr. D.A. Cole, Mr. R.W. Jenkins, Mr. J.W. Schoen, Mrs. C-C.F.T Streit and Mrs. H.M. Vletter-van Dort.
download the Risk Committee Charter
Nomination and Corporate Governance Committee
The Nomination and Corporate Governance Committee advises the Supervisory Board, among other things, on the composition of the Supervisory Board and Executive Board and assists the Supervisory Board in monitoring and evaluating the corporate governance of NN Group as a whole and the reporting thereon in the Annual Report and to the General Meeting. In addition, it advises the Supervisory Board on improvements.
The members of the Nomination and Corporate Governance Committee are Mr. D.A. Cole (Chair), Mr. D.H. Harryvan, Mrs. C-C.F.T. Streit and Mrs. H.M. Vletter-van Dort.
download the Nomination and Corporate Governance Committee Charter
The Remuneration Committee advises the Supervisory Board, among other things, on the terms and conditions of employment (including their remuneration) of Executive Board members and the policies and general principles on which the terms and conditions of employment of Executive Board members, Management Board members and of senior managers of NN Group and its subsidiaries are based.
The members of the Remuneration Committee are Mrs. H.M. Vletter-van Dort (Chair), Mr. D.A. Cole, Mr. D.H. Harryvan, Mr. R.W. Jenkins and Mr. R.A. Ruijter.
download the Remuneration Committee Charter
Share ownership Executive Team
Members of the Executive Board, Management Board and Supervisory Board are permitted to hold NN Group shares for long-term investment purposes. Transactions in these shares are subject to NN Group’s regulations for insiders. Movements in the holding of NN Group shares may take place for various reasons, including as a result of dividend pay-out or as part of the remuneration.
Information on transactions in NN Group securities by persons and institutions who are obliged to notify transactions in NN Group securities can be found on www.afm.nl, the website of the Dutch regulator.