OREANDA-NEWS. Rabobank is extending its Executive Board to include the function of Chief Risk Officer who will be responsible for the risk management of the bank. The existing function of Chief Financial & Risk Officer will be split. In the coming period the Supervisory Board will seek suitable candidates for the functions of Chief Risk Officer and Chief Financial Officer. Candidates from inside and outside the bank are eligible to apply.


Bert Bruggink has decided to step down when the function splits but will continue to carry out the combined tasks until suitable candidates are found and appointed for both new functions. He will therefore not serve the full period of his third and final term as a member of the Executive Board. After he steps down he will continue to work for Rabobank in an advisory capacity to the Executive Board.

Wout Dekker, chairman of the Supervisory Board: “By splitting the CFRO function we are bringing the composition of the Executive Board in line with what is customary in other financial institutions in the Netherlands and abroad. The Supervisory Board respects Bert Bruggink’s decision to step down at the appropriate time, allowing us to conduct the recruitment process and the subsequent transition process with all due care. We are extremely grateful to Bert for the enormous dedication, knowledge, resilience and sense of perspective with which he has served Rabobank as a member of the Board for the past 11 years. We are very pleased that we can continue to draw on his expertise and experience in the future.”

Bert Bruggink: "I have spent my entire career working at the Rabobank. I consider it a privilege that I have been able to contribute to the development of the bank, together with highly skilled colleagues. In all those years the Rabobank has been through different phases and I am proud of our current financial robustness. Given the strong and high quality basis of the Rabobank and the decision to split the CFRO tasks now, I feel this is the right time to announce that I am stepping down so that the bank can start the search for candidates. I will ensure a thorough transfer of my tasks and induction phase for my successors.”