Supervisory Board structure and role

The Supervisory Board  supervises the Management Board, and the general course of affairs in the company and in FMO's business. All members are available to the Management Board for strategic advice and are able to provide advice on specific issues, with two dedicated committees, one on audit and risk management, and the other on selection, appointment and remuneration.

Supervisory Board members are appointed by the AGM. In May our Chairman Willy Angenent retired from the Supervisory Board and its committees, after nine years of service. Jean Frijns took over the role of Chairman. The Supervisory Board would like to thank Willy Angenent once again for his dedication and valuable contribution to FMO during these years.

The Supervisory Board currently comprises six members, with specific expertise in areas relevant to FMO's activities.

The Supervisory Board reviewed its own functioning in 2011 and reaffirmed its commitment to the two-tier board system as the appropriate model for FMO. The Supervisory Board sees its role as supervising, advising and acting as a sparring partner for the Management Board, as well as working with the latter to set out the bank's strategy, and engaging with key stakeholders on FMO's behalf.

Last year, the Supervisory Board analyzed its composition and discussed the optimal mix of competencies that should be represented. It reached the conclusion that FMO's Supervisory Board should aim for a continued good variety of skills and experience in areas such as business and risk management, as well as finance and banking, climate change and Human Resources related subjects.

FMO subscribes to the four 'core competences' for banks' Management and Supervisory Boards. Board members are required to have sufficient expertise on the following subjects:

  • management, organization and communication;
  • relevant products, services and markets;
  • sound management; and
  • well-balanced and consistent decision-making.

The Supervisory Board also strives to have at least two female members.

The introduction program for new Supervisory Board members includes meetings with the Management Board and Works' Council. New members gain further insight into FMO's working processes and target markets through discussions with investment officers and social and environmental specialists.

No new members were appointed to the Supervisory Board in 2011, but there was discussion of the changes due in 2012, when the current appointments of members Dolf Collee, Agnes Jongerius and Pier Vellinga come to an end.

The Supervisory Board held an extensive search for a successor to Dolf Collee, who will retire from the FMO Supervisory Board in 2012 and cannot be reappointed. The nomination of his successor will be submitted to the AGM in May 2012.The Board is happy that Agnes Jongerius and Pier Vellinga are available for reappointment.

Supervisory Board structure and memberships

Supervisory Board member

Personal information

Initial appointment

End of current appointment

Supervisory Board Committee membership

Jean Frijns, Chairman 2)

Dutch, 1947, male



Audit & Risk Committee

Selection, Appointment & Remuneration Committee

Rein Willems,
Vice Chairman

Dutch, 1945, male



Audit & Risk Committee

Bert Bruggink

Dutch, 1963, male



Audit & Risk Committee, Chairman

Dolf Collee

Dutch, 1952, male



Selection, Appointment & Remuneration Committee, Chairman

Agnes Jongerius

Dutch, 1960, female



Selection, Appointment & Remuneration Committee

Pier Vellinga

Dutch, 1950, male



Audit & Risk Committee

Willy Angenent 1)


Dutch, 1940, male



Audit & Risk Committee,

Selection, Appointment & Remuneration Committee


1) Willy Angenent was the Chairman of the Supervisory Board up to and including the AGM of May 11, 2011

2) Jean Frijns is Chairman of the Supervisory Board as of the AGM of May 11, 2011