NN Group supervisory board chair Jan Holsboer to step down

Dutch insurer NN Group has elected David Cole to succeed Jan Holsboer as the chairman of its supervisory board following its annual general meeting later this year in May.

Holsboer, chair of the supervisory board of NN Group, has decided to step down from his role. He was appointed to the board in March 2014 and became chair in July 2014. In June 2016, he was reappointed as member and chair of the supervisory board.

Cole's appointment has been approved by De Nederlandsche Bank (DNB), the Dutch supervisory authority.

Furthermore, the supervisory board has decided to nominate Hélène Vletter-van Dort for reappointment as a member for a term of four years. She has been member since October 2015.

Lard Friese, CEO of NN Group, said: "I consider it an honour and a pleasure to have worked closely with Jan Holsboer, as chair of our supervisory board, over the past five years. Jan has made a profound contribution to the development of NN. On behalf of the executive and management boards, I would like to express my gratitude and appreciation for Jan's mentorship, his commitment to the company and his unwavering support. At the same time, I welcome the supervisory board's decision to elect David Cole as new chair and I look forward to our future collaboration."

Holsboer commented: "After a career of more than 50 years in the financial services sector and predominantly in the insurance industry, I have decided that the time has come to step down from the supervisory board of NN Group. It was a privilege to have been part of NN Group's journey, from the separation from ING Groep, the IPO in July 2014, to the acquisition and subsequent integration of Delta Lloyd Group. I would like to thank my colleagues in the supervisory board, the executive and management boards, and all NN employees for their trust and cooperation over the years. I am proud of NN's achievements and leave the company knowing it is well positioned for the future. I wish my successor, David Cole, my supervisory board colleagues and NN every success."

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