KPN names former finance minister as CFO

News General Netherlands 21 JUL 2014
KPN names former finance minister as CFO

KPN has named the firmer Dutch finance minister Jan-Kees de Jager as its new CFO and member of the management board. He served in the Dutch cabinet from 2007-2012, first as state secretary for finance (2007-10) and then minister of finance (2010-12). Since then he has led the ICT company ISM eCompany, where has has been involved since 1992. 

KPN will hold an extraordinary shareholders meeting, likely in September to confirm the appointment. KPN said his remuneration package is in line with group policy with annual salary of EUR 625,000 plus short-term cash bonuses and long-term bonuses in share options. Both bonuses are based on KPN's performance. 

Steven van Schilfgaarde, who has served as interim CFO since September 2013, will remain in his role until 01 November. He took over when Eric Hageman stepped down for personal reasons in September 2013. Hageman was in place since January 2012.

KPN also announced a new management structure following the sale of its German unit E-Plus. The management board will take a more hands-on approach to leading operations, with a chief commercial officer (CCO) and chief operating officer (COO) joining the board alongside the CEO and CFO. 

CEO Eelco Blok said the new management structure should lead to a stronger focus on customers and better control of costs. Reducing the number of layers of management is part of the continued efforts to simplify the company, he said. 

Joost Farwerck, currently Managing Director Netherlands, will take up the role of COO. Until a CCO is found, Block will handle the commercial functions. Thorsten Dirks is stepping down from the board to remain at the German activities under Telefonica, while Jos Donvil, CEO of the Belgian unit Base, will report directly to the KPN CEO. 

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