Corporate governance

NN Group is managed by a disciplined, highly motivated and experienced team. The members of NN Group's executive team have many 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. As of 1 October 2019, the Executive Board of NN Group comprises of David Knibbe, chair and Chief Executive Officer, and Delfin Rueda, vice-chair, Chief Financial Officer and Chief Risk Officer ad interim.

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.

Management Board

As per 1 January 2020 the Management Board of NN Group consists of:

Supervisory Board

As per 28 May 2020 the Supervisory Board of NN Group consists of:

      Management Board Charter

      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.

      Executive 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.

      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.

      Rotation Schedule Supervisory Board
      Name Position Year of birth Date of appointment (2) Termination - reappointment date
      David Cole Chair 1961 1 January 2019 2022
      Heijo Hauser Member 1955 7 July 2014 2022
      Hans Schoen (1) Member 1954 7 July 2014 2022
      Hélène Vletter-van Dort (1) Vice-chair 1964 6 October 2015 2023
      Robert Jenkins Member 1951 2 February 2016 2024
      Clara Streit Member 1968 1 June 2017 2024

      (1) Works Council nominee

      (2) Average tenure in years: 3.7

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