BAM will start next strategic cycle under new leadership

CEO Van Wingerden hands over helm

The Supervisory Board of Royal BAM Group nv announces that it has been decided by mutual agreement that Rob van Wingerden will not be nominated for a new term as CEO and member of the Executive Board. The end of the current strategic cycle offers Van Wingerden a natural moment to hand over the helm. The Supervisory Board has started the search for a successor, who will lead the next phase of BAM's development, including the preparation of the strategic update.

Van Wingerden will step down at the end of his term on April 15, 2020 at the annual general meeting of shareholders. Until a successor is appointed, Frans den Houter, BAM's current CFO, will act as CEO ad interim. Paul Sheffield, a member of the Supervisory Board since 2017, will support the Executive Committee in an advisory capacity as delegated supervisory board member.

Rob van Wingerden has been a member of the Executive Board for 12 years, including 5.5 years as CEO. He started his career with the Group in 1988.

'Rob has led BAM through turbulent times,' says Harrie Noy, chairman of the supervisory board. 'He has a clear vision of what is needed to meet future challenges. By introducing the One BAM concept, he laid the foundation for the company's current transformation process. With more than 30 years of loyal commitment to BAM, we can only be grateful for Rob's contribution, vision and leadership.

Rob van Wingerden, CEO: "After almost six years as CEO and with the prospect of a strategy update, now is a natural time to hand over leadership of the company. I am proud of what we have achieved with the One BAM program, as it allows us to leverage the scale of our business and the knowledge of our employees. We are leading the way in digitalization and sustainability, which means BAM has enormous potential now and in the future. Although I will still be active as CEO for a few more months, I would like to take this opportunity to thank all my colleagues who are at the heart of BAM. It has been a privilege to lead this great company.'

In accordance with the contractual provisions, BAM will pay a severance payment of one year's salary.

Financial calendar

Royal BAM Group will announce its results for the 2019 financial year on Friday, February 21, 2020. The annual general meeting of shareholders will take place on Wednesday, April 15, 2020. The company is preparing for a strategic update, the date of which will be announced after the new CEO takes office.