ING boss Tilmant steps down

Monday 26 January 2009

Financial services group ING announced on Monday morning that its CEO
Michel Tilmant will step down as CEO today 'in light of the extraordinary developments over the past few months and given his personal condition'.

Tilmant will remain connected to the company as an advisor until his retirement on August 1 this year.

In a statement, ING said its supervisory board has decided to appoint its chairman, Jan Hommen, to replace Tilmant, subject to approval of the shareholders at their general meeting on April 27.

Hommen joined ING from electronics concern Philips in 2005 and became chairman of the supervisory board a year ago.

Peter Elverding will take over from Hommen as head of the supervisory board.

Paying tribute to Tilmant, Hommen said: 'Under his leadership ING has made major steps in its development as a successful player in the financial services industry. Michel has built a very good team around him and continuity of management is therefore secured.'

ING, which received a €10bn capital injection from the Dutch government last year, booked its first ever loss in the third quarter of 2008.

Click here for the ING statement.

© DutchNews.nl

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