Royal KPN chief financial officer Carla Smits-Nusteling will step down on 1 April as a result of disagreements over the new governance structure, marking the Dutch telecommunications provider’s second board member departure in two months….
Royal KPN chief financial officer Carla Smits-Nusteling will step down on 1 April as a result of disagreements over the new governance structure, marking the Dutch telecommunications provider’s second board member departure in two months.
Smits-Nusteling told KPN’s supervisory board she disapproves of the internal governance components of the new executive structure, introduced on 1 January, according to a company statement.
Eric Hageman, head of KPN Belgium, and Steven van Schilfgaarde, head of the Dutch corporate business, will become interim CFOs with immediate effect.
“The supervisory board intends to find a permanent successor at the shortest possible notice,” the statement added.
KPN had announced in November that Baptiest Coopmans, another board member, will also leave on April 1.
KPN’s new executive structure forms part of its ‘Strengthen – Simplify – Grow’ strategy announced last May.
The new structure sees management board members meet directly with unit chiefs, allowing them greater control over their respective businesses, the company said in the statement.
“As a team, we will be able to head the different segments decisively and efficiently, enabling us to act on changing market dynamics and customer demands” said chief executive Eelco Blok.
KPN has declined to elaborate on the reasons for Smits-Nusteling’s departure.
The company’s share price fell by 2% following the announcement.
