Sipko Schat will step down from the Executive Board of Rabobank Netherlands with immediate effect. The Supervisory Board has made this decision despite the regulators’ support for Sipko Schat. The reason for this is that it has recently become apparent that there is insufficient support from the local member banks for him staying.
Chairman of the Supervisory Board Wout Dekker: “It was a difficult decision to make for all parties.” Rinus Minderhoud, Chairman of the Executive Board, adds: “We lose a top international banker; a well-esteemed colleague who has contributed a great deal to Rabobank.”
Due to the existing sensitivities around compensation upon departure, Rabobank will consult an independent third party to make a decision on the conditions of the departure.
The Supervisory Board expects to be able to announce a new member of the Executive Board within a reasonable time.