ING shareholders back new board

Tuesday 28 April 2009

Shareholders in financial services company ING have backed the appointment of two new board members.

Over 99% voted in favour of appointing Jan Hommen as CEO and Patrick Flynn as CFO. Flynn was under fire for accepting 100,000 ING shares as a golden hello.

An overwhelming majority of shareholders approved Shell CEO Jeroen van der Veer's appointment to the ING supervisory board, replacing former prime minister Wim Kok.

ING last year had a capital injection of €10bn from the Dutch government, which is also guaranteeing 80% of its risky US mortgage portfolio. During the shareholders' meeting, ING said it planned to pay back the treasury as soon as possible, while minimising the impact on the company itself.

© DutchNews.nl

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