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Paul Verhagen to Leave Fugro after 7Y

Source: 1/12/2021, Location: Europe

The Supervisory Board of Fugro NV announces that Chief Financial Officer (CFO) Paul Verhagen has decided to leave the company. Verhagen, who joined Fugro as CFO and member of the Board of Management in 2014, will step down after the annual meeting of shareholders on 22 April 2021. He will be nominated to become CFO and member of the Management Board at ASM International NV as per 1 June 2021.

Harrie Noy, chairman Supervisory Board: ‘We respect Paul’s decision to take on a new challenge after having served as our CFO for 7 years but of course it is unfortunate that he leaves. We are very grateful to him for what he achieved based on his business acumen, commitment and perseverance. Paul played a key role in the substantial refinancing of Fugro which was recently successfully completed. This brings the company in a stable situation, providing Fugro with the financial flexibility to execute on its Path to Profitable Growth strategy.’

Mark Heine, CEO: ‘I want to thank Paul for all that he has done for Fugro. Under his leadership, the finance function throughout the company has been professionalised. Moreover, he made a significant contribution in our transition towards a more cohesive, agile and resilient organisation with a more diversified business. He is a great colleague and team player. We wish him every success in this next step in his career’.

Paul Verhagen, CFO: ’I have truly enjoyed my time at Fugro. Although market circumstances have been challenging during most of that period, we have been able to transform the company and I am proud to have been part of this journey. I have every confidence in the future success of Fugro, supporting the energy transition, climate change adaptation and sustainable infrastructure development.’

The Supervisory Board has initiated the process for the succession of Paul Verhagen and will communicate about the progress in due course.

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