Pan-European exchange Euronext has announced changes to the personnel of its supervisory board.
Rijnhard van Tets, Chairman of the Supervisory Board of Euronext N.V., has informed Euronext of his decision not to continue with the stock exchange for a new term. He has further decided that he will maintain his position until the Annual General Meeting of Shareholders (AGM), which is scheduled to commence on May 15.
Commenting on his decision to step down from the position, van Tets said: “After completing fifteen years as member of the Supervisory Board of Euronext N.V., of which almost eleven years as Chairman, I have notified the Supervisory Board of my decision to step down after the next AGM.”
“I would like to thank my fellow Supervisory Board members, as well as Euronext’s Managing Board for their ongoing commitment to the transformation and growth of the company during the past eleven years. I wish Euronext and its stakeholders all the best for the future.”
Euronext’s New Chairman
The board has announced that the current Vice Chairman, Dick Sluimers, has been elected as the new Chairman, likely in an effort to assure a smooth transition in such a tight time frame.
The appointment of Mr. Sluimers is currently subject to regulatory approval. The appointment will in all likelihood be approved, as he has been a part of the board since July 14, 2016.
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Mr. Sluimers provides Euronext with important experience both in executive positions in the financial industry, namely serving as Chief Executive Officer and Member of Executive Board at APG Asset Management.
Moreover, Mr. Sluimers has also obtained substantial familiarity with supervisory board processes, as he has been the Chairman of the Executive Board of the Algemene Pensioen Groep N.V. (APG) since 2008. He has also served as Chairman of the Supervisory Board at Atradius Credit Insurance, as well as Chairman of Stichting Pensioenfonds ABP Group.
As part of his vast accumulation of experience on supervisory boards, Mr. Sluimers has also been a member on the boards of NIBC Holding N.V., NIBC Bank N.V., Atradius Credit Insurance N.V, Atradius Reinsurance Ltd., Atradius Trade Credit Insurance, Inc., Atradius N.V., Netspar, and Akzo Nobel N.V..
If all of that incredible experience was not enough, he also serves as a Member of the Board of Governors of the State Academy of Finance and Economics, as well as a Trustee of the Erasmus University Trust, and a Trustee of International Financial Reporting Standards Foundation.
Euronext’s CEO and Chairman of the Managing Board, Stéphane Boujnah, said: “I would like to express my gratitude to Rijnhard van Tets as Chairman of the Supervisory Board for the support he has given to the management team during this time, especially throughout the transformational periods of the company. Euronext’s Managing Board members wish Rijnhard van Tets all the best and will remain strongly committed to the development of the company, alongside Dick Sluimers as our new Chairman of the Supervisory Board, who, with his strong track record in the financial services industry, will be able to oversee the further growth of our company and businesses from this firm basis.”
Euronext is quite used to adapting to changing environments. The exchange has reached various deals in recent months, as it looks to advance to the future and maintain its position as the leading Pan-European exchange. Some of these moves include securing a minority stake in LCH SA, as well as acquiring InsiderLog for €5.8 million.