Karel de Boeck, the chairman of the stock exchange-listed Fortis Holding has resigned, the NRC reports on Monday.
He will be replaced by Bart De Smet who currently heads the Belgian insurance arm.
‘His job has been completed. We are now a strong insurance group,’ Jozef De Mey, head of the supervisory board, told the paper.
De Mey denied reports of a personality clash between De Boeck, who had a mandate until April 2010, and himself.
Fortis Holding is made up of the remains of the Fortis financial services group following the nationalisation of its Dutch banking arm and sale of the Belgian operations to BNP Paribas.
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