UTRECHT, The Netherlands, Nov. 12, 2004 (PRIMEZONE) -- Mr. A. (Bert) Bruggink has been appointed to the Executive Board of Rabobank Group in the position of Chief Financial Officer (CFO) effective 15 November 2004. "He is an extremely experienced and qualified banker from our own ranks," says Chairman of the Supervisory Board L. (Lense) Koopmans. 'This appointment means that there is now a complete and strong team in place for the new top structure of Rabobank Nederland.'Bert Bruggink (aged 41) is head of the Directorate Control Rabobank Group since 1998. As the new CFO, Bruggink will receive a much broader portfolio of responsibilities that will encompass integral responsibility for control and risk management for the entire Rabobank Group. The objective will be to establish uniform and group-wide methods in these fields of activity. The scope of the new CFO's responsibility will also expressly extend to control and risk management at the subsidiaries of Rabobank Nederland.
Bruggink will furthermore be accountable in his role as CFO for the centralised management of relationships with rating agencies, supervisory bodies and large investors in Rabobank paper. He will also be responsible for defining policy in the field of control and risk management. In this capacity he will consequently perform a key managerial, supervisory and advisory role. Bruggink: "The wide spectrum of positions that I have held within the Rabobank Group since 1986 has given me a broad perspective of this realm of responsibility. I consequently look forward to giving further shape to these activities in the role of responsible CFO."
"Through this appointment we have filled the key position of CFO with a skilled and experienced professional," says Chairman of the Supervisory Board Lense Koopmans. "In addition, he comes from our own Rabo ranks and is well-versed in the field of inter-bank consultation. With the appointment of CFO, the Executive Board is now a complete team in accordance with the top structure that will take effect on 1 January 2005." As a result of this new appointment the Executive Board of Rabobank Nederland will have six members. The other members of the board are Bert Heemskerk (chairman), Piet Moerland (Banks/Co-operative), Piet van Schijndel (Retail), Hans ten Cate (Wholesale), Rik van Slingelandt (International) en Bert Bruggink (CFO).
The decision was made in May 2004 to expand the Executive Board to include the position of CFO. This decision was taken in part due to international legislation and regulations. H. (Bert) Heemskerk will continue to hold a dual position as chairman and CFO on the Executive Board until 15 November. Heemskerk: "Since I joined the Rabobank I have fervently fulfilled this "dual role". And in doing so I have always been able to rely on Bert Bruggink's vast financial knowledge. He is now going to assume full responsibility for this portfolio in the position of CFO. I have complete confidence in his ability to fulfil this role successfully."
Bert Bruggink is married and has two children. Since 1996 he has held an additional function at the University of Twente as a professor in the Financial Management and Business Economics department.
Click on the link below to view the photo of mr. Bert Bruggink: http://hugin.info/133178/R/968854/141466.doc
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