New top management structure at Rabobank
Flatter, increased focus on digital transition and customers
The Rabobank Supervisory Board has decided to introduce a new top management structure. On 1 September 2017 responsibility for the day-to-day management of Rabobank will transfer from the Executive Board to a Managing Board of ten members led by current chairman of the Executive Board Wiebe Draijer. The formation of a Managing Board will bring a flatter structure, increased focus on the digital transition, and representation of more customer segments at the highest executive management level. This should result in an acceleration of Rabobank’s digital transition. The Works Council has issued a positive advice on this change. All proposed appointments are pending regulatory approval.
Wiebe Draijer: “Eighteen months ago we set out our strategic route. We’re well on track, but this adjustment will help us boost the pace of the changes at Rabobank in relation to the market and to digitalisation. In the new Managing Board, all key customer segments are represented at executive level. Group-wide attention for digitalisation and talent at the highest executive management level gives us a closer fit with the change agenda of the cooperative Rabobank.”
Separate directors in the Managing Board will represent four key customer segments: Retail banking and Commercial banking in the Netherlands, Wholesale Clients and Rural & Retail International worldwide. The Digital Transformation Officer will be responsible for digitalisation of service provision, innovation and Fintech across the group. The Managing Board will also include the Human Resources role to boost culture, leadership and talent development even further. Alongside the chairman, CFO and CRO, the Managing Board will also include a CIO/COO with responsibility for IT, data improvement and operations.
The Rabobank Managing Board will consist of [i]:
- Wiebe Draijer (51), Chairman
- Bas Brouwers (45), Chief Financial Officer
- Petra van Hoeken (56), Chief Risk Officer
- Mariëlle Lichtenberg (49), Retail Banking
- Kirsten Konst (42), Commercial Banking
- Jan van Nieuwenhuizen (56), Wholesale Clients
- Berry Marttin (51), Rural & Retail International
- Bart Leurs (45), Digital Transformation Officer
- Ieko Sevinga (51), Chief Information Officer / Chief Operating Officer
- Janine Vos (44), Chief Human Resources Officer
In view of the changes to their domains, Rien Nagel and Ralf Dekker are taking the opportunity to seek new career challenges outside the bank. Once their current term of office expires, they will be available for a transition period to transfer their responsibilities.
Ron Teerlink, chairman of the Supervisory Board: “The formation of the Managing Board is a major step towards realising Rabobank’s strategic objectives. The new members will most certainly be a great asset to the team, working together to tackle the challenges we face with ambition and great energy. On behalf of the Supervisory Board, I would like to express our extraordinary appreciation to Ralf Dekker and Rien Nagel for their achievements on behalf of the bank. Ralf made a substantial contribution to streamlining our operations and IT and took the lead in intensifying our innovative power. Rien played a leading role in the governance change at Rabobank. On 1 January 2016, 106 cooperative local banks and the central cooperative organisation at Rabobank Nederland merged into a single new cooperative Rabobank. The process to bring about this change and its impact were of immense value to the bank. We wish both gentlemen every success in their future ventures.”
Wiebe Draijer: “I am looking forward to moving ahead on our strategic course with a renewed and extended team. Digitalisation, innovation and HR will be given greater priority. With separate executives for our key customer segments in the Netherlands, we can further tighten our focus on improving customer service provision in combination with our identity as a bank firmly anchored in local communities and always nearby. Outside the Netherlands, we will further capitalise on the growth potential in Rural Banking and through our continued focus on F&A, we will reinforce our leading position in the F&A chain for our Wholesale clients. As a whole, this Managing Board constitutes a multi-faceted and balanced group of people with an outstanding track record inside and outside Rabobank. I too would like to express my appreciation for the dedication, professionalism and team spirit shown by Ralf Dekker and Rien Nagel. I wish them the very best for the future.”
Ralf Dekker: “Although we still have quite a way to go, I’m extraordinarily proud of what was achieved during my time on the Executive Board, certainly in the field of innovation, IT and operations. I’m confident that this upward line will continue in the new structure, certainly given that IT and innovation will be so explicitly incorporated in the new Managing Board. On the personal level, the time is right for me to take up a new challenge outside Rabobank, which I find an inspiring prospect.”
Rien Nagel: “The change to the executive management structure at Rabobank and the three-way split of my portfolio is a logical reason for me to seek a change of direction and to leave the bank. I’m proud of what I have achieved, together with my colleagues, on behalf of our members and our customers. I wish the new Rabobank executive team every success. It’s been a great pleasure to work so intensively with them and I will continue to follow developments with great interest. As I explore options for my professional future, I will continue to focus on entrepreneurship.”
[i] From 1 September 2017 the statutory Executive Board of Rabobank will consist of Wiebe Draijer, Bas Brouwers, Petra van Hoeken, Kirsten Konst, Jan van Nieuwenhuizen and Berry Marttin (reappointed for 4 years).
Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.