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Aegon CFO announces he will retire at April shareholder meeting

January 12, 2009

After more than ten years at the helm, Aegon Chief Financial Officer Jos Streppel has announced that he will retire next April.

Former Aegon Chief Financial Officer Jan NooitgedagtAegon’s Supervisory Board has nominated Jan Nooitgedagt, currently Chairman of Ernst & Young’s operations in the Netherlands and Belgium, as his successor as CFO and member of the company’s Executive Board.

Aegon shareholders will be asked to approve Mr. Nooitgedagt’s appointment at their next annual general meeting, scheduled for April 22.

Dudley Eustace, Chairman of Aegon’s Supervisory Board, said the company’s stakeholders could take “great confidence in Jan Nooitgedagt succeeding Jos Streppel”.

“Jan has spent his professional life in international finance, guiding and advising multinational companies in adapting to the changes in world financial markets,” he said. “We are delighted to have attracted a person of his integrity and professional caliber.”

In his statement, Mr. Eustace also thanked Mr. Streppel for his years of “outstanding service” to Aegon. Mr. Streppel’s decision to step down at the age of 60 is in line with Aegon’s retirement policy for Executive Board members. He has been Aegon’s Chief Financial Officer since 1998.

Mr. Nooitgedagt, 55 and a Dutch national, brings considerable experience to his new post. For five years, he headed Ernst & Young’s financial services activities in the Netherlands. In 2006, he was appointed Chairman of Ernst & Young, The Netherlands. He currently serves on the firm’s Executive Committee for Europe, the Middle East, India and Africa.

Mr. Nooitgedagt said he was “excited and honored by the prospect of joining Aegon as CFO”. “These are particularly interesting times to join a global insurance company, “ he added. “I look forward to building on the solid platform that has been established in recent years.”

Mr. Streppel started his career in 1973 at one of Aegon’s predecessor companies and served as chairman of both FGH Bank and the merchant bank Labouchère before being appointed Aegon’s Chief Financial Officer just over ten years ago. In the past few months, Mr. Streppel has helped guide Aegon through the current financial crisis, pushing through a strategy aimed at reducing risk and freeing up additional capital from the company’s businesses.

Mr. Streppel also serves as vice chairman of the Supervisory Boards at both KPN, the Dutch telecommunications giant, and the bank Van Lanschot Bankiers.

Mr. Nooitgedagt’s appointment as CFO must also be approved by the Dutch Central Bank, standard procedure in the Netherlands.