ABN Amro CEO Kees van Dijkhuizen leaves

  • Push-out Score determined
  • After about three years in the position
  • Praise for van Dijkhuizen
  • Search for a successor
  • van Dijkhuizen said 113 words

(exechange) — Amsterdam, Netherlands, June 16, 2019 — Kees van Dijkhuizen, chief executive of ABN Amro, leaves. As announced by ABN Amro Group NV in a news release on Sunday, June 16, 2019, Kees C. van Dijkhuizen, Chief Executive Officer, leaves the Dutch bank group after about three years in the role, effective April 12, 2020.

The announcement comes 11 months after Tom de Swaan took over as Chairman of ABN Amro Group N.V.

ABN Amro will undertake a search for a successor.

Long goodbye

It is a long goodbye. The announcement of Kees van Dijkhuizen’s move comes up to 10 months prior to his planned departure from the post of CEO.

In general, a top executive who announces the departure very early may be considered a lame duck.

Lengthy lead times give boards extra time to find replacements, and they also create uncertainty. Would-be successors may jockey for attention and workers may wonder who is actually in charge.

Generally speaking, lame-duck leaders can take a forceful role in selecting a successor and are not expected to launch major shifts.

No reason given

In the announcement, ABN Amro did not explicitly explain the reason for Kees van Dijkhuizen’s move.

Precise information regarding Kees van Dijkhuizen’s future plans was not immediately available.

“Will not serve a new term of office”

ABN Amro said: “Kees van Dijkhuizen will not serve a new term of office following the end of his current term, which will expire at the Annual General Meeting on 12 April 2020.”

Share price decline

The announcement follows a decline in ABN Amro Group N.V.’s share price of 15 percent since January 2017.

Chaired by Tom de Swaan

ABN Amro Group N.V. is chaired by Tom de Swaan.

Tom de Swaan was appointed as Chairman and member of the Supervisory Boards of ABN Amro Group N.V. and ABN Amro Bank N.V. on July 12, 2018.

In the position of CEO since 2017

Kees van Dijkhuizen was appointed to the Executive Boards of ABN Amro Group N.V. and ABN Amro Bank N.V. on May 1, 2013 and was Chief Financial Officer from June 1, 2013 to December 31, 2016.

He was appointed CEO and Chairman of the Executive Boards on January 1, 2017 for the period of 3 years.

As Chairman, Kees van Dijkhuizen is also responsible for Group Audit, Corporate Office, Strategy & Corporate Development, Human Resources and Communications & Sustainability.

His current term expires at the first general meeting after expiration of the 3 year period.

Kees van Dijkhuizen held various positions at the Ministries of Finance and Economic Affairs.

He started his career as policy maker at the Budget Affairs Department of the Ministry of Finance.

In 1999 he became Director-General of the Budget at the Ministry of Finance.

From 2000 to 2005, Kees van Dijkhuizen was appointed Treasurer General.

He was Chief Financial Officer of NIBC Bank N.V. from 2005 to 2013, as well as its ViceChairman from September 2009 to 2013.

Furthermore, Kees van Dijkhuizen was a member of the Supervisory Council of Museum Meermanno from January 2005 to July 2016, member of the Supervisory Council of TNO from November 2009 to November 2014 and board member of Stichting Bewind (Protector and administrator, testamentary duties, regarding separated capital for part of the House of Oranje-Nassau from June 2010 to January 2017.

Also, he was Chairman of the Committee on Supervision of the Dutch Banking Association from February 2012 to January 2017 and board member of the Stichting Duisenberg School of Finance from June 2013 to September 2016.

At the time of Kees van Dijkhuizen’s appointment as Chief Executive Officer at ABN Amro, Olga Zoutendijk, then Chairman of the Supervisory Board, had said: “Kees van Dijkhuizen has solid experience and a strong track record as CFO of ABN Amro, and has held multiple senior executive positions in the banking industry and the public domain. His experience, combined with his personal integrity and leadership style and extensive network, make him well-suited to lead ABN Amro.”

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

exechange reached out to ABN Amro and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 25.2019 ($).