Fortis puts new Board of Directors on the agenda of General
Shareholders' Meetings
Fortis will hold General Shareholders' Meetings in Utrecht (Fortis
N.V.) on 1 December and in Brussels (Fortis SA/NV) on 2 December. The
agenda includes the composition of the Board of Directors. A review
and account of Fortis's business situation will also be given, in
particular the decisions that were taken between 28 September and 10
October 2008. And - in Belgium only and in accordance with the
Belgian Company Code, section 633 - a resolution needs to be adopted
on the continuation of activities.
The Chairman of the General Meeting will officially announce the
resignation of all the current members of the Board of Directors and
propose the election of a new Board of Directors.
Viscount Etienne Davignon will be nominated to hold office as the new
Chairman of the Board of Directors of Fortis SA/NV and Fortis NV
until the close of the Annual General Meeting of Shareholders in 2009
with the possibility of remaining for another year, provided the
shareholders agree.
Jan-Michiel Hessels, Philippe Bodson and Louis Cheung Chi Yan will be
nominated for non-executive membership of the Board of Directors
until the close of the Annual General Meeting of Shareholders in
2009.
Karel De Boeck will be nominated for election to the Board of
Directors until the close of the Annual General Meeting of
Shareholders of 2010. He will be appointed CEO by the Board of
Directors on the day of the meeting, 2 December 2008. Filip Dierckx
will simultaneously step down as interim CEO.
'We very much appreciate Viscount Davignon being prepared to take on
this task. His long and distinguished track record and familiarity
with the Belgian and international community, and with the Fortis
group will benefit the business and foster the relationship with its
shareholders,' says interim chairman Jan-Michiel Hessels. 'Moreover,
the re-appointment of some members of the Board of Directors will
ensure that the necessary knowledge and experience is retained in the
interests of the shareholder.
'We respect Filip Dierckx's decision to continue his career at Fortis
Bank - the future BNP Paribas - and are very grateful for the way in
which he has taken on the role of interim CEO in recent months.
'I have accepted the Board of Directors' proposal to nominate me as
Chairman of the new Board of Directors to the General Meetings on 1
and 2 December,' says Etienne Davignon. 'If the General Meetings pass
a resolution in favour of my appointment, I, together with my
colleagues, will make every effort to formulate a plan for the future
in order to create the best possible value for the shareholders. I'm
sure this will be possible.'
The abbreviated agenda of these General Meetings will be available on
the Fortis website (www.fortis.com) as from Saturday 8 November. It
will also be published in several Belgian and Dutch daily newspapers.
Appendix : Curriculum vitae of Etienne Davignon and Karel De Boeck
Fortis holding (Fortis SA/NV and Fortis N.V.) will, after the
conclusion of the deal with BNP Paribas, include only (1)
international insurance activities, (2) a 66% stake in a structured
credit portfolio entity and (3) financial assets and liabilities of
various financing vehicles.
The international insurance activities (Fortis Insurance
International) are located in UK, France, Hong Kong, Luxembourg
(Non-Life), Germany, Turkey, Russia, and Ukraine, and in joint
ventures in Luxembourg (Life), Portugal, China, Malaysia, India and
Thailand.
Fortis holding is therefore no longer involved in any banking
activities, and once the deal with BNP Paribas is concluded, will
concern only international insurance activities.
Press contacts:
Brussels: +32 (0)2 565 35 84 Utrecht : +31 (0)30 226 32 19
Investor Relations:
Brussels: +32 (0)2 565 53 78 Utrecht : +31 (0)30 226 65 66
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
