CEO Jeroen Drost leaves NIBC after AGM 2014

Jeroen Drost, Chairman and Chief Executive Officer (CEO), has announced today that he will step down from NIBC after the forthcoming general shareholder meeting in 2014. Drost has taken his decision and the timing of his departure in good consultation with the Supervisory Board, which has begun a search for his successor.

"The Bank's transformation since the crisis is largely complete and I believe that having led the bank for six years this is a natural time for me to hand over the leadership of the bank", explained Jeroen Drost his decision. "By taking this decision now, the Supervisory Board will have ample time to arrange an appropriate succession. I look forward to working together with my team during this final chapter in my NIBC career".

"Although the Supervisory Board accepts Jeroen's decision with regret, we are pleased he will remain Chairman and CEO for the next few months", said Wim van den Goorbergh, Chairman of the Supervisory Board. "Jeroen's leadership has been decisive in changing NIBC into the strong and well-capitalised bank we are today. I already would like to thank him for his very important contribution to the bank".

Chris Flowers, Chief Executive Officer of J.C. Flowers & Co., commented: "On behalf of J.C. Flowers and the shareholders we are grateful to Jeroen Drost for his leadership during the last six years. Jeroen has been a strong leader and partner, ably navigating NIBC during a difficult period in the financial markets and positioning the bank on an solid course for the future".