APG, the largest pension fund in the Netherlands managing US$697 billion, has named Annette Mosman as its first female CEO.
Mosman is a member of the board of directors and has been Chief Finance and Risk Officer at the pension fund since February 2018. She will begin the role on 1 March, succeeding Gerard van Olphen, who is stepping down for personal reasons.
Mosman will chair the executive board, which also includes Ronald Wuijster (Asset Management CEO) and Francine van Dierendonck (DWS Chair, Chair Pension Administration ad interim). Last month, Sarah Russell, the former CEO of Aegon Asset Management, was appointed to the supervisory boards of APG and APG Asset Management, effective 15 May 2021.
In addition to her full-time role, Mosman is also Treasurer of the Dutch Olympic Committee, a member of the supervisory boards of AFC Ajax and anti-cancer charity KWF Kankerbestrijding. She joined the pension fund from insurance company Generali Nederland, where she was also promoted to CEO after being the CFRO.
“Her active involvement over the last year in the development of the new strategy is an absolute plus,” said Pieter Jongstra, Chair of APG’s supervisory board.
The Netherlands does not have gender parity at C-Suite executive level. In fact, an Equileap survey of 100 companies found there were more CEOs named Peter (five) than there were female CEOs (four). Equileap is an international research agency dedicated to gender equality in the business world.
Just 4.7 per cent of CEOs at Europe’s top companies were women in 2019, a report by the EU-backed European Women on Boards found in January last year based on data from companies listed on Europe’s Stoxx 600 index, which is comprised of the 600 highest-valued public firms in Europe. Businesses from 17 countries were included in the analysis.