The AFM's Executive Board now has four members. Directors Harman Korte and Gerben Everts have been appointed as members of the Board, in addition to chairman Ronald Gerritse and Executive Board member Kockelkoren.
Minister De Jager of Finance has agreed to the proposal of the Supervisory Board to appoint the two current directors. The Supervisory Board made the recommendation following the departure of René Maatman as Executive Board member in April of this year. The appointments, which became effective on 1 November 2012, mean that the AFM's Executive Board now consists of four rather than five persons.
"We welcome Gerben Everts and Harman Korte to the Executive Board", says George Möller, chairman of the Supervisory Board. "They have already proven themselves as AFM directors. During the past months, they have led the organisation as a team together with Ronald Gerritse and Theodor Kockelkoren." Korte will remain responsible, among other things, for supervision of pensions, transparency and integrity. As an Executive Board member, Everts focuses mainly on the supervision of auditors, financial reporting, securities markets and financial infrastructure.
AFM Chairman Ronald Gerritse is also very pleased with the appointments. He also considers it a next step towards making the AFM more effective and efficient. "There were three Executive Board members and four directors until 2008. We now decrease the number of AFM Board members to four. We will not make the somewhat artificial distinction between three Executive Board members and two directors who jointly constituted the 'management group' anymore. The situation will become clear: the AFM is managed by a board consisting of four members."
According to the Financial Supervision Act, the AFM's Executive Board has to consist of at least three and at most five members. They are appointed by Royal Decree. The Supervisory Board may submit a non-binding recommendation for every appointment.
Korte and Everts have been appointed for a period of four years. They can be reappointed twice. Their salaries are determined by the Supervisory Board, following approval by the Minister of Finance.
The AFM is committed to promoting fair and transparent financial markets.
As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.