Governance structure
FMO’s corporate governance structure is based on the premise that FMO is a long-term partnership of stakeholders who, directly or indirectly, influence or are influenced by the achievement of our objectives. Stakeholders include customers, the Dutch government, shareholders and other providers of capital, employees, NGOs and local communities in the countries where we work, as well as partners.
FMO is expected to take the interests of all stakeholders into account at all times. In governance terms, this expectation is expressed through the responsibilities and accountability of the Management Board and Supervisory Board with regards to our shareholders and other stakeholders.
FMO’s Supervisory Board supervises and advises the Management Board. New members of the Supervisory Board are appointed by the General Meeting of Shareholders on the nomination of the Supervisory Board. The Supervisory Board currently has three committees: the Audit and Risk Committee, the Selection, Appointment and Remuneration Committee, and, as of 1 July 2019, the Impact Committee, which advise and prepare decision-making. The Impact Committee deals with subjects such as ESG (including human rights), impact strategy, impact measurement, (NGO) stakeholders and communication, audit, reporting and international developments regarding impact.
The daily management of our bank lies with the Management Board, consisting of three members: the Chief Executive Officer, the Chief Risk and Finance Officer and the Chief Investment Officer. They are formally responsible for the management of our bank and are appointed by the Supervisory Board.
F. (Fatoumata) Bouaré | M.A.S. (Michael) Jongeneel | H. (Huib-Jan) de Ruijter |
Chief Risk & Finance Officer | Chief Executive Officer | Chief Investment Officer |
Ivorian (Ivory Coast), 1966, female | Dutch, 1973, male | Dutch, 1976, male |
Appointment in current position 2017-2021, 2021-2025 | Appointment in current position: 2021-2025 | Appointment in current position: 2021-2025 |
Other positions: | Other positions: | Other positions: |
No other positions | Treasurer of the board of Oxfam International, a Dutch “Stichting”. This is a non-executive (supervisory) position. | Member Steering Committee of Agri3 Finance Fund |
FMO faces a number of challenges, including a growing pace of change in our markets, the growth of our organization and the need to engage more actively with a larger number of stakeholders. In response, the Supervisory Board and the Management Board have been discussing ways to spread the workload by expanding the Management Board from three to five persons.
Appointments of members of the Supervisory Board and Management Board are subject to the approval by the Dutch Central Bank, which assesses the reliability and suitability of candidates. FMO organizes extra training where necessary and offers a Lifelong Learning Program to its MB and SB members.
Organizational chart
