Aegon chairman Donald Shepard will stand down next year after 37 years of service, to be succeeded by Alexander Wynaendts.
Shepard reaches retirement age next year and will be replaced by Wynaendts, who is currently Aegon’s chief operating officer, from April 23, 2008.
Wynaendts is a member of the boards of Aegon’s main country units in the
United States, the Netherlands and the United Kingdom. In addition, Mr.
Wynaendts is responsible for implementing the firm’s international expansion
He has spent nearly 25 years in international finance and insurance. A Dutch national, he began his career with ABN AMRO in 1984, working in the bank’s private banking and investment banking operations in both Amsterdam and London.
Aegon supervisory board chairman Dudley Eustace says: “Don has led Aegon through challenging market conditions and leaves the company with a strong balance sheet and healthy cash flows. We are grateful to Don for his many contributions to the growth of our business during his 37 years of service.
“Following a thorough selection process, we have identified Alex Wynaendts as the right person at the right time to lead AEGON into its next stage of growth. Alex has a strong financial background and a broad international perspective that is essential to managing our business successfully in the coming years.”
Shepard says: “I want to thank my colleagues and the many quality people behind our businesses who have made my years with AEGON so rewarding.
“I have every confidence that Alex Wynaendts is the ideal choice to lead Aegon forward.”