KPN has named a new CEO, after withdrawing the appointment of Proximus CEO Dominique Leroy. COO Joost Farwerk, named temporary chairment of the management board and executive committee in September, will now lead the company. KPN also named a new CFO, Chris Figee, who will be joining from ASR Netherlands. KPN said the new team will ensure the company is on track for its 2019-2021 strategy. The new CEO said he will focus primarily on that strategy, and on seeing how it can deliver “even more” organic sustainable growth.
CFO Jan Kees to step down
Farwerk will also permanently assume the role of chairman to the supervisory board. KPN said he has been appointed for a new four-year term as of 1 December to further ensure longer-term continuity. Figee will succeed CFO Jan Kees de Jager from February. De Jager is stepping down after five years as CFO to continue his entrepreneurial career. He will remain on the board until 1 March and be available in an advisory role even after that, to ensure a smooth transition.
KPN to expand management board
KPN will also be expanding its board of management to broaden key business, technology and people responsibilities. The idea is to also flatten the top structure, promote more efficiency and recognise the importance of the "human factor" in delivering KPN’s strategy. The supervisory board will appoint a number of people to the board from 1 December, namely Jean-Pascal Van Overbeke as chief consumer market, Marieke Snoep as chief business market, Babak Fouladi as chief technology and digital officer, and Hilde Garssen as chief people officer.
KPN gave a note on salaries, saying Farwerck in his role as CEO will earn EUR 875,000 per year while Figee as CFO will bring in EUR 675,000 per year. The base salary will go to EUR 650,000 for Snoep, Van Overbeke and Fouladi and to EUR 500,000 for Garssen.
The appointments and the announced changes in governance structure are still subject to Central Works Council advice. There will be an Extraordinary General Meeting (EGM) for shareholders announced in due course.
