Chairman and CEO nominated for new term
The Fortis Board of Directors has decided to propose to the General
Shareholders Meetings, which will be held on 29 April 2008, to
re-elect Jean-Paul Votron as executive director for a three-year
term, until the end of the General Shareholders Meetings of 2011.
The Board will propose to the General Shareholders Meetings to
re-elect Jacques Manardo and Rana Talwar as non-executive directors
for a three-year term, until the end of the General Meetings of
Shareholders of 2011. Messrs. Manardo (French national, born in 1946)
and Talwar (Indian national, born in 1948) both joined Fortis as
directors in 2004.
The Board of Directors considers it in the interests of Fortis that
Count Maurice Lippens remains chairman of the Board of Directors. The
Board is also of the opinion that the terms of Chairman and CEO
should preferably not overlap. The Board will therefore propose to
re-elect Mr Lippens as a non-executive director for a four-year term,
until the end of the General Shareholders Meetings of 2012.
Mr Maurice Lippens, a Belgian national, was born in 1943. He has been
a non-executive director of Fortis SA/NV and of Fortis N.V. since
2000 and the sole chairman of Fortis's Board of Directors since 26
May 2004. He was executive co-chairman of Fortis between 1990 and
2000. Between 1981 and 1990, he was director of the insurance company
that today forms part of Fortis Insurance Belgium.
Considering Mr Lippens's experience and contribution to Fortis, the
Board recommends to depart from the rule stating that a member can
serve for a maximum of 12 years. The Board also considers that this
exception does not affect the independence of Mr Lippens.
Baron Piet Van Waeyenberge, who will reach the 70-year age limit in
2008, is no longer eligible for re-election as a Board member. Mr Van
Waeyenberge joined Fortis as a director in 1988. Since then, the
Board has benefited greatly from Mr Van Waeyenberge's extensive
business and management experience in Fortis's home markets. The
Board would like to express its deep gratitude to Mr Van Waeyenberge
for the significant contribution he has made to the development of
Fortis and to the Board's undertakings.
Fortis is an international financial services provider engaged in
banking and insurance. We offer our personal, business and
institutional customers a comprehensive package of products and
services through our own channels, in collaboration with
intermediaries and through other distribution partners. With a market
capitalisation of EUR 48.5 billion (31/10/2007), Fortis ranks among
the 15 largest financial institutions in Europe. Our sound solvency
position, our presence in over 50 countries and our dedicated,
professional workforce of 60,000 enable us to combine global strength
with local flexibility and provide our clients with optimum support.
More information is available at www.fortis.com.
Brussels: +32 (0)2 565 35 84 Utrecht: +31 (0)30 226 32 19
Brussels: +32 (0)2 565 53 78 Utrecht: +31 (0)30 226 65 66