KPN announced the resignation of CFO and management board member Carla Smits-Nusteling from 1 April. Smits-Nusteling informed the supervisory board that she does not agree with the internal governance of the company in the new executive structure. At her request, Smits-Nusteling will receive no exit consideration but be paid as usual, depending on the company's achievement of performance targets. She will receive neither short nor long-term incentives for 2012. Eric Hageman, currently CEO KPN Group Belgium, will act as full-time interim CFO and take 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 take on the responsibilities for control and reporting, accounting and security. Both interim CFOs will take on their respective roles within the board of management with immediate effect. The supervisory board intends to find a permanent successor at the shortest possible notice. The departure of Smits-Nusteling coincides with the implementation of the new executive structure as of 1 January. KPN announced the new structure during its 'Strengthen - Simplify - Grow' strategy on 10 May. With the new structure, KPN hopes to have a more direct control of the operational activities. KPN's executive committee will direct the company's operational activities, under the supervision and responsibility of the board of management.
