ING Groep : Shareholders get together at AGM

24 April 2017

ING's annual general meeting (AGM) took place in Amsterdam yesterday, with shareholders gathering to vote on the 2017 annual accounts and ask questions of the board members. Hot topics included CEO Ralph Hamers' remuneration proposal and sustainable development.

Ralph Hamers started by reflecting on last year's achievements. Things like our progress in adopting blockchain technology, partnerships with fintechs like Payvision, and ING's commitment to sustainability make him proud.

'Thank you to all 54,000 employees for helping us achieve all this.'

Receiving the 'Best Bank in the World' award in 2017 is another accomplishment Ralph highlighted.

'But we won't stop here,' he said. 'ING aims to create a society of self-reliant people. Only when you give your customer control, will you improve your services.'

He went on to speak about ING's role in supporting the transition to a low-carbon economy and efforts to reduce our sustainable footprint.

All voting items on the agenda were adopted. The board's proposal from early March to award a 50% pay rise to the CEO wasn't put up for a vote, as announced in a press release on 13 March. Yet, as expected, shareholders were outspoken about the topic. They sought answers from the board on the remuneration proposal that sparked anger among politicians, customers and employees last month.

The AGM reappointed Eric Boyer de la Giroday to the supervisory board of ING, effective immediately, and Jeroen van der Veer has stepped down from the supervisory board. He will be succeeded by Hans Wijers, also effective immediately.