Further to questions raised at the General Meeting of Shareholders on 10 December, the Supervisory Board of AM NV (Amstelland MDC) announces that Mr. K. de Ruiter, Chairman of the Management Board, is to stand down with effect from 30 June 2004, in accordance with the retirement rota and the contractual arrangements.
When MDC was taken over by Amstelland in 2002, a retirement rota was drawn up for the members of the Management Board under which Mr. De Ruiter was to stand down on 30 June 2004. Mr. De RuiterÃ¢â¬â¢s retirement is consistent with the policy of rejuvenating the Management Board and broadening its composition.
The Supervisory Board is making good progress in finding a successor for Mr. De Ruiter. A further report on the progress achieved in rejuvenating the Management Board and increasing its diversity will be given by the Supervisory Board at the next General Meeting of Shareholders on 6 May 2004.
In 2004, Mr. De Ruiter (60) will have completed 40 yearsÃ¢â¬â¢ service with AM, formerly Amstelland / NBM-Amstelland, in a variety of management positions. He has been a member of the Management Board since 1998 and its Chairman since 2001.
New member Supervisory Board
The Supervisory Board of AM NV (Amstelland MDC) announces that Mr. L.C. (Elco) Brinkman has been appointed a member of the Supervisory Board, with immediate effect, for a term of four years. His appointment was approved by the shareholders at the General Meeting of Shareholders on 10 December.
Mr. BrinkmanÃ¢â¬â¢s appointment will increase the membership of AMÃ¢â¬â¢s Supervisory Board to four. The Board now comprises, in addition to Mr. Brinkman, Messrs. C. Boonstra (Chairman), A.D.J.G. van Dam and L.J.M. Pijnenburg.
Source: AM N.V.