Former finance minister Jan Kees de Jager is to be the new chief financial officer at telecoms group KPN.

De Jager will start working at KPN on August 15 and will become cfo after a transitional period. He was finance minister from 2010 to 2012 in the first Rutte-led government. Since losing his cabinet place at the last election, De Jager has focused on building up his own IT company.

De Jager, 45, will earn a basic salary of €625,000 a year plus performance-related bonuses.

‘Jan Kees combines extensive financial experience with operational leadership in the technology sector. He is widely recognised for his financial expertise as Minister of Finance during a turbulent financial period in Europe,’ supervisory board chairman Jos Streppel said in a statement.

KPN is also planning to strengthen its board with a chief operating officer and a chief commercial officer, the company statement said.