Shake-up in MN executive board as two to leave

The €130bn Dutch pensions provider and asset manager MN has announced changes to half of its four-strong executive board as of 1 February next year.

The provider of the large metal schemes PMT and PME said that its chief financial and risk officer Liesbeth Sinke would leave the firm, while Hendri den Boer – currently director of pensions and insurance – would move internally to a role in asset management.

Sinke, who joined in 2016 to improve MN’s IT organisation, has also overseen innovations in financial policy and risk management.

She said that it now felt like the right moment to leave for a next challenge.

Prior to her job at MN, Sinke held positions at companies including ING subsidiary NNIB, Marsh, Aon and ABN Amro.

Den Boer, who started at MN in 2015 to lead innovations, made clear that he preferred to “focus on content based on his background as an econometrist”.

He has had several positions at pensions insurer NN, and is currently a member of the supervisory boards (RvC) of insurer Onderlinge ‘s-Gravenhage and the €1.5bn pension fund of Dutch automotive organisation ANWB.

A spokesman for MN said the board change was not related to the appointment of Norbert Hoogers  as new chief executive last June.

At the time, Hoogers said there was “a challenge in the necessary innovation in automated systems and processes”.

This was echoed by Ella Vogelaar, chair of MN’s RvC, who cited “improving service provision on insurance” as a target.

The spokesman added that MN would assess the effect of the current task demarcation in the executive team before seeking suitable successors for Sinke and Den Boer.