NETHERLANDS – The Dutch pension provider has appointed Else Bos as its new chief executive.
Bos's appointment takes effect immediately.
She succeeds Martin van Rijn, who joined the new Dutch Cabinet as state secretary in the Ministry of Health, Welfare & Sport in November 2012.
Since van Rijn's departure, Bos has served as acting chief executive in addition to her role as chief of institutional business.
Her previous jobs include various positions at ABN Amro and NIB Capital Asset Management.
She joined PGGM in 2002, becoming chief executive of investments and joining the executive committee in 2004.
PGGM said the appointment, still subject to the approval of De Nederlandsche Bank, followed a careful selection process and was made by a selection and appointments committee, consisting of representatives of the shareholder and the supervisory board.
Frank de Grave, chairman of the cooperative board, said the decision to appoint Bos was a "logical one".
"No one is quite as at home with the financial world, the pensions sector, the PGGM stakeholders and the organisation itself as Else Bos.
"At times like these, such continuity is particularly important, which is why we unanimously and proudly chose her.
"She will continue on the set course and take care of the interests of the current and future clients and members of PGGM in a professional manner."
With the appointment of Bos as chief executive, the PGGM executive committee now consists of her, Paul Loven (CFO and deputy chief executive), Bart Blanken (CMO), Eloy Lindeijer (CIM) and Harry Vossebeld (COO).
PGGM said there would be further discussion on how to fill the vacancy for chief of institutional business.
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