Aegon chairman Donald Shepard is to retire next year after 37 years with the company.
He will be succeeded from April 23 next year by Alexander Wynaendts, who is Aegon chief operating officer.
Wynaendts is a member of the boards of Aegon’s main country units in the US, the Netherlands and the UK. He is also responsible for implementing the firm’s international expansion strategy.
He has almost 25 years in international finance and insurance. Wynaendts is Dutch and began his career with ABN Amro in 1984, working in the bank’s private banking and investment banking operations in Amsterdam and London.
Aegon supervisory board chairman Dudley Eustace says: “Donald has led Aegon through challenging market conditions and leaves the company with a strong balance sheet and healthy cashflows. We are grateful for his many contributions to the growth of our business during his 37 years of service.”
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.”