Rabobank Nederland appoints new board members

Variable remuneration Executive Board abolished

Ralf Dekker and Rien Nagel will join the Executive Board of Rabobank Nederland, effective 1 November , 2013. They will have a leading role in the implementation of the Vision 2016 programme in the coming years. Rabobank also announces the abolition of the variable remuneration for the Executive Board. This Supervisory Board decision follows earlier announcements that no variable remuneration would be awarded to the Executive Board in 2012 and 2013.

Executive Board ready for Vision 2016

As Chief Operating Officer, Ralf Dekker will take on Group-wide responsibility for the operational support of all banking services. Ralf Dekker joined Rabobank in 1993. He started as Manager Automation Policy at Rabofacet, the department which at that time was responsible for all Dutch IT operations and support services. Between 1998 and 2000, Ralf Dekker was general manager at Rabofacet. In 2000, he became Managing Board member of Rabobank International. From 2006, he tis Rabobank International’s Chief Operating Officer. Before joining Rabobank, Ralf worked for Rabobank as an independent consultant. He graduated in 1982 from the Inter-University Faculty of Business Administration in Delft.

From 1 November, Rien Nagel will oversee all activities for retail clients, private banking clients and SMEs in the Netherlands. Rien Nagel was appointed Director Retail Banking on 1 May, 2013. During the past 25 years , Rien worked in various positions throughout Rabobank’s domestic banking operations. Rien Nagel began his career in 1987 as Business Relationship Manager at Rabobank Zutphen, after graduating from agricultural college Larenstein. After working for several years at Rabobank Ommen and Rabobank Hardenberg he became Managing Director Rabobank Winterswijk in 1995. Subsequently he headed Rabobank - Aalten and Winterswijk Rabobank Achterhoek East. In 2007, Rien Nagel was appointed Chairman of the Board at Rabobank Utrecht. He graduated in business administration in 2002 from the Radboud University of Nijmegen.

Piet Moerland , Chairman of the Executive Board of Rabobank Nederland : "Ralf Dekker and Rien Nagel provide a welcome strengthening force for our Executive Board. Both have been working for Rabobank for many years and know the bank through and through. Rien Nagel has experienced all aspects of the domestic banking business which is crucial for supporting the current transition process of our local banks. Ralf Dekker brings in all his experience from the operations arena enabling him to deliver a major contribution. As Executive Board we will soon decide on the detailed division of tasks."

Wout Dekker , Chairman of the Supervisory Board: "With the appointment of Ralf Dekker and Rien Nagel, the Executive Board is back to its full strength. I am very happy that we were able to appoint new executives from our own ranks. Rien Nagel is a seasoned banker and has a vast domestic business experience. Ralf Dekker has an impressive track record within both our domestic and international banking operations. He has demonstrated that he is able to implement major organisational changes successfully.”

Abolition variable remuneration Executive Board

The variable remuneration for the Executive Board Rabobank Nederland has been abolished. This decision by the Supervisory Board follows earlier announcements that no variable remuneration would be awarded to the Executive Board in 2012 and 2013.

Rabobank reached agreement on a new Collective Labour Agreement for its 35,000 employees in the Netherlands earlier this year. This agreement included the cutting of general wage increases until 2016, and the abolition of variable remuneration for most Rabobank employees.

Wout Dekker, Chairman of the Supervisory Board, comments : "With the abolition of the variable remuneration for the Executive Board, we are taking into account the views of our key stakeholders: our customers and members. In addition, we respond to widely held public views regarding bank executives’ pay. The Supervisory Board has concluded that variable remuneration for our Executive Board is no longer compatible with the economic role Rabobank plays in Dutch society.

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