The Supervisory Board of Corio N.V. has the intention to appoint Mr. B.A. van der Klift as Chief Financial Officer (CFO) and Mrs. F.J. Zijlstra as Chief Operational Officer (COO), both will also become member of the Management Board of Corio after notification to the general meeting of shareholders (AGM) on 23 April 2010. During this AGM the current CFO of Corio, Mr. J.G. Haars will resign. The COO position is an addition to Corio's current Management Board. The Netherlands Authority for the Financial Markets (AFM) has vetted the intended appointments. Ben van der Klift and Francine Zijlstra will be appointed as from 1 May 2010 for a period of 4 years. To guarantee continuity and a seamless transfer of responsibility, Mr. Haars has agreed to act as an advisor of Corio until 1 May 2011 at the latest.
Ben van der Klift (1959) has over 22 years'experience in several financial and managerial positions. He started his working career in 1987 at the RDM in Rotterdam, he joined DHV in 1991 and was appointed as finance director by PRC Bouwcentrum in 1997. After the acquisition of PRC Bouwcentrum by ARCADIS, he became finance director of ARCADIS N.V. in January 2005. In May 2006 he was appointed as CFO in the Executive Board of ARCADIS. In this position he was co responsible for the strong growth and professionalization of the company. He was involved in several large international acquisitions and held board positions at ARCADIS operating companies in Brazil, the United States and Europe. He holds a bachelor in Civil Engineering, he graduated in Business Administration and received the title Chartered Controller from the Vrije Universiteit in Amsterdam. Francine Zijlstra (1963) is working for Corio (and its predecessor VIB N.V.) since 1990 in several positions, lastly as director of strategy & acquisitions. After a few years in financing, she has built 20 years of international experience in real estate. She graduated in Business Administration and holds a Masters Degree in Real Estate.
Ben van der Klift will receive a fixed gross annual salary of 300,000, including holiday allowance. Francine Zijlstra will receive a fixed gross annual salary of 215,000, including holiday allowance. They are both entitled to a variable pay that is fully in line with the remuneration policy as adopted by the meeting of shareholders in April 2008. The contribution that will be made available by Corio towards an individual pension is set at 20% of the gross annual salary. Both are entitled to a maximum of one full year's gross annual salary as severance payment in case of early termination of the contract by Corio. In case of a fundamental change in the ownership structure of Corio, under certain circumstances the severance payment can rise to a maximum of two years gross annual salary.
Change composition Management Board
To be able to facilitate the growth of the company, Corio decided to reinforce the Management Board. As from 1 May 2010 the Management Board will, next to the CEO and CFO, consist of a Chief Operational Officer (COO) and a Chief Development Officer (CDO). Frederic Fontaine, member of the Management Board since May 2006 will take the role of CDO, next to leading the French business unit. Taking the development activities in-house within Corio and build 1 April 2010 2 the expertise, calls for more central steering. Sourcing deals and positions in this field and also the execution is a local activity. The design & development we regard as a phase that should combine all knowledge available within the company, and is therefore centralized. This process will be lead by the CDO.
Francine Zijlstra, who has been with the company since 1990, knows Corio inside out, and is an expert in the field of retail property in Europe, will take the role of COO. By implementing this function the holding company will be able to stay close to our business units, Francine will give guidance on strategy and operations to the business units. At the same time we safeguard the communication between business units and the group as wel
