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Dutch CFO Exits On Governance

Smits-Nusteling, finance chief at telecom KPN, cites company's new executive structure.

By Cornelius Rahn, Bloomberg News | Updated on January 04, 2012

Royal KPN NV, the largest Dutch phone company, said Chief Financial Officer Carla Smits-Nusteling has stepped down because of disagreements about governance, the second departure of a board member in two months.

Eric Hageman, KPN’s head for Belgium, and Steven van Schilfgaarde, chief of the Dutch corporate business, will become interim CFOs with immediate effect, the Hague-based operator said in a statement today, adding that it’s looking for a permanent replacement as soon as possible. Smits-Nusteling, 45, will leave April 1. In November, KPN said that another board member, Baptiest Coopmans, will also leave on April 1.

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