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Carla Smits-Nusteling decides to leave Dutch incumbent following restructuring
January 3, 2012
THE HAGUE, The Netherlands -- KPN N.V.’s Chief Financial Officer and Board of Management member Carla Smits-Nusteling will leave the company per April 1 2012. Mrs Smits-Nusteling has informed the Supervisory Board that she has ultimately come to the conclusion that she does not agree with the internal governance of the company in the new executive structure. Chairman of the Supervisory Board Jos Streppel: “We regret Carla’s departure. Since her appointment as CFO, Carla has performed as well as we had expected and has acted as a highly professional and engaged Board Member and CFO. We respect her wish to continue her career outside KPN.”
At her request there is no consideration. Any short-term incentive (STI) earned for 2011 will be paid out as usual depending on the company’s achievement of performance targets. Mrs Smits-Nusteling will receive neither short nor long-term incentives (LTI) for 2012. Any conditional shares granted under the LTI remuneration scheme that have not yet vested will be treated in accordance with the so-called plan rules.
Eric Hageman, currently CEO KPN Group Belgium, will act as fulltime interim CFO and takes on the responsibilities for Investor Relations, M&A, Fiscal Affairs and Treasury. Jos Donvil will act as interim CEO for KPN Group Belgium.
Steven van Schilfgaarde, currently CEO Corporate Market NL, will act as interim CFO and takes on the responsibilities for Control and Reporting, Accounting and Security.
KPN Telecom NV (NYSE: KPN)
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