Rabobank number 2 steps down

The Chief Financial and Risk Officer of Rabobank, Bert Bruggink, is stepping down from the board of directors of the bank once his position is split into two separate roles. The Board of Directors will initiate recruitment procedures for the newly formed positions of Chief Financial Officer and Chief Risk Officer in the near future, Rabobank said in a statement. "Given the fact that the base of the Rabobank is strong and of a good quality, and has now chosen to split the CFRO tasks, this is a natural time for me to announce my resignation, so that the bank can start the search for candidates," Bruggink wrote. Bruggink will be performing his duties until both candidates have been found. After his resignation, he is going to remain an advisor to the board. "With the splitting of the CFRO function, we bring the composition of the board in line with what is customary at other financial institutions at home and abroad," said Chairman Wout Dekker. "The supervisory board respects the decision of Bert Bruggink to scale down at a later time, so we can carefully go through the recruitment process and the subsequent transition."