- Push-out Score suggests push-out forces
- After seven years on the job
- Accolades, praise and thanks for Blok
- Maximo Ibarra taking over
- Blok made a lengthy statement and said 72 words
(exechange) — The Hague, Netherlands, October 20, 2017 — Eelco Blok, chief executive of KPN, leaves. His departure is made public at an early stage. As announced by Koninklijke KPN N.V. in a news release on Friday, October 20, 2017, Eelco Blok leaves the post as Chief Executive Officer at the largest Dutch telecommunications company after seven years on the job, effective April 18, 2018.
Blok’s duties are taken over by Maximo Ibarra, currently Chief Executive Officer at Wind Tre S.p.A.
The fact that Blok’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“It is now time for a change”
The management change is explained as follows. Eelco Blok said: “After seven years as CEO and many years at KPN it is now time for a change.”
Precise information about the future plans of Blok was not immediately available.
KPN said: “Maximo Ibarra succeeds Eelco Blok who will step down from his position at the Annual General Meeting of Shareholders on 18 April 2018. This follows the end of his second term as CEO and Chairman of the Board of Management and after a total of 12 years as member of the Board of Management.”
Share price decline
The change follows a decline in the share price of Koninklijke KPN N.V. since May 2016.
Chaired by Duco Sickinghe
Koninklijke KPN N.V. is chaired by Duco Sickinghe.
Sickinghe was appointed as a member of the Supervisory Board on April 9, 2014, and has chaired the Supervisory Board since April 15, 2015.
On the job as CEO since 2011
Eelco Blok has been the Chairman of the Management Board at Koninklijke KPN N.V. since April 2011 and has been its Chief Executive Officer since April 6, 2011.
Blok has had a long career with the company that he joined as a business analyst in 1983 when it was still known as PTT.
In the years prior to that he studied business economics at the Erasmus University Rotterdam and business management at the Rotterdam School of Management.
Until he joined the Board of Management in 2004, Blok held managerial positions in various parts of the company.
As a member of the Board of Management, he was responsible successively for the divisions Fixed, Business Market, Wholesale & Operations, Getronics, Mobile International and iBasis.
Between January 2005 and June 2006 he was corporate strategy & innovation officer and chief operating officer fixed, before rejoining the Board of Management.
Since taking office as board chairman and CEO in 2011, Blok has successfully implemented the first phase of the KPN “strengthen, simplify and grow” strategy.
Eelco Blok is co-chairman of the National Cyber Security Council.
In his free time he is a keen competitive yachtsman.
Eelco Blok is married to Annemarie Weverling. They have three children.
Eelco Blok will continue to serve as CEO of KPN until the AGM in 2018, when Maximo Ibarra will take over.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Eelco Blok’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 43.2017 ($).