Dutch telecommunications operator Royal KPN N.V. (KKPNY.PK, KKPNF.PK) on Tuesday announced its intention to appoint Eric Hageman as the company's Chief Financial Officer. Hageman, 42, has been acting as full time interim CFO since January, following the resignation of then CFO Carla Smits-Nusteling after KPN decided to expand its executive management board.
KPN, of which Mexican peer America Movil S.A.B. De C.V. (AMX: Quote, AMOV) owns 27.7 percent, said its Supervisory Board will inform shareholders on the appointment at an Extraordinary General Meeting of Shareholders to be held in September.
Hageman will continue his role of interim CFO until he takes on his position as CFO at the EGM. Steven van Schilfgaarde, CEO Corporate Market NL, who has been acting next to Hageman as part-time interim CFO since January, will also continue this role until the EGM.
Chairman of the Supervisory Board Jos Streppel said, "We have conducted a comprehensive review of both internal and external candidates and found the best person for the job. Eric brings substantial financial markets experience to the Board and continuity in our financial policy."
Hageman joined KPN in 2005 and most recently held the position of CEO KPN Group Belgium. Previously, he worked for nearly a decade as a corporate financier in London, where he advised companies in the Telecoms, Media and Technology sectors.
KPN, which has been reporting plunging profits amid difficult market conditions, added that the terms and conditions of Hageman's employment contract fit within its remuneration policy, as approved by the General Meeting of Shareholders.
According to the company, Hageman will earn a base salary of 575,000 euros per year and also is eligible for a short term variable cash incentive and a long term variable incentive - both related to the performance of KPN.
In Amsterdam, KPN shares are currently trading at 7.30 euros, down 0.14 euros or 1.88 percent.
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by RTT Staff Writer
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