ING publishes proxy materials for 2021 AGM
ING Groep N.V. today published the proxy materials for its Annual General Meeting (AGM), to be held on Monday 26 April 2021. The proxy materials, including the agenda for the AGM, are available on the ING website (www.ing.com/agm).
In light of the Covid-19 pandemic and related government guidance and legislation, the 2021 AGM will be held virtually, without the possibility for shareholders’ physical attendance. The meeting will be webcast live via www.ing.com. Instructions on registration, virtual attendance, voting and submitting questions are available at www.ing.com/agm. ING will continue to closely monitor developments and will publish any further updates on the AGM at the website.
Given the ECB recommendations regarding dividend payments in light of the Covid-19 pandemic, it will be proposed to the AGM to declare the interim dividend of €0.12 per ordinary share, paid in February 2021, as final dividend over 2020. In line with ING’s distribution policy of 50% of resilient net profit, the remaining amount (€0.27 per share) is reserved, with the intention to make an additional distribution after 30 September 2021. We also intend to distribute the amount originally reserved for 2019 after 30 September 2021, all subject to prevailing ECB recommendations and relevant approvals.
The agenda for the AGM includes the proposal to appoint Ljiljana Čortan as member of the Executive Board, as announced on 6 November 2020. Ljiljana Čortan has been serving as chief risk officer and member of the Management Board Banking since 1 January 2021. The proposed appointment of Ljiljana Čortan has been approved by the European Central Bank.
ING also proposes to the AGM to reappoint Steven van Rijswijk, CEO of ING, to the Executive Board for a next term of four years. Steven van Rijswijk was appointed to the Executive Board at the AGM in 2017. He served as chief risk officer from 1 August 2017 until 1 July 2020, when he became chairman of the Executive Board and CEO.
As announced on 10 March 2021, it is proposed to the AGM to appoint Lodewijk Hijmans van den Bergh as member of the Supervisory Board. Upon decision by the AGM, the appointment of Lodewijk Hijmans van den Bergh will be effective as of the end of the AGM on 26 April 2021. The proposed appointment of Lodewijk Hijmans van den Bergh has been approved by the European Central Bank.
As also announced on 10 March 2021, it will be proposed to the AGM to reappoint Margarete Haase and Hans Wijers for a next term of four years as member of the Supervisory Board. They both were first appointed in 2017. After completing his four year term since appointment in 2017, Jan Peter Balkenende will at his request retire from the Supervisory Board at the end of the AGM 2021 to focus on other future activities.
Full details of all voting items, including the aforementioned proposals, are included in the proxy materials published today. The proxy materials also include the 2020 Annual Report of ING, including the Financial Statements (Annual Accounts) and the reports of the Executive Board and the Supervisory Board, as published on 11 March 2021, as well as other information and documents as required by law. Information for holders of American depositary shares is available at www.ing.com/ads. Shareholders are advised to check the information on the website regularly for any updates.
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