The Supervisory Board of Aegon N.V. announces the appointment of Alexander R. Wynaendts to succeed Donald J. Shepard as Chairman of the Executive Board, effective April 23, 2008, in the year Mr. Shepard will reach Aegon's retirement age.
Alex Wynaendts, aged 47 and a Dutch national, has been a member of Aegon's Executive Board since 2003 and currently serves as Chief Operating Officer. He is a member of the Boards of Aegon's main country units in the United States, the Netherlands and the United Kingdom. In addition, Mr. Wynaendts is responsible for implementing Aegon's international expansion strategy.
Aegon's Supervisory Board Chairman Dudley Eustace stated: "Under the leadership of Don Shepard, Aegon has strengthened its financial position, expanded into new growth markets, and is in a solid position for future growth. Don has led Aegon through challenging market conditions and leaves the company with a strong balance sheet and healthy cash flows. We are grateful to Don for his many contributions to the growth of our business during his 37 years of service.
"Following a thorough selection process, we have identified Alex Wynaendts as the right person at the right time to lead Aegon into its next stage of growth", said Mr. Eustace. "Alex has a strong financial background and a broad international perspective that is essential to managing our business successfully in the coming years."
Don Shepard stated: "I want to thank my colleagues and the many quality people behind our businesses who have made my years with Aegon so rewarding. I have every confidence that Alex Wynaendts is the ideal choice to lead Aegon forward."