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Aegon announced the resignation of Chief HR Officer Carla Mahieu, effective June 1, 2021. Carla, who joined Aegon in 2010 and became a Management Board member in 2016, will transition to new roles on the Supervisory Boards of Arcadis and DSM, alongside her position at VodafoneZiggo. CEO Lard Friese acknowledged her significant contributions in establishing a strong HR function and emphasizing organizational strategy. Aegon is already in the process of identifying her successor, with further announcements to be made accordingly.
Aegon has announced that Will Fuller will succeed Mark Mullin as President and CEO of Transamerica effective March 31, 2021. Fuller, with nearly 30 years of experience in insurance and financial services, previously served as Executive Vice President at Lincoln Group. He is set to lead Transamerica through its next transformation stage. Mark Mullin, who has been CEO for 11 years, will transition to Chairman of the Transamerica Board. Lard Friese, CEO of Aegon Group, praised Fuller’s track record and commitment to diversity and inclusion as a significant asset for the company.
Aegon has successfully divested Stonebridge, a UK-based accident insurance product provider, to Global Premium Holdings for approximately GBP 60 million. This sale aligns with Aegon's strategy to simplify its business and focus on entities with higher growth potential. The deal includes a potential additional GBP 10 million contingent consideration but is not expected to materially impact Aegon's capital position or financial results.
Aegon N.V. reported a net loss of EUR 147 million for 2H 2020, primarily due to liabilities' value increase linked to tightening credit spreads. However, underlying earnings before tax rose by 7% to EUR 1,029 million, supported by better equity markets and operational savings. The full-year dividend is proposed at EUR 0.12 per share, backed by EUR 530 million in Free Cash Flows. The company aims to achieve significant transformation through over 1,100 initiatives, with achieved expense savings of EUR 75 million in 2020, and plans for additional savings by 2021.
Aegon's Supervisory Board plans to propose the reappointment of Matt Rider as Chief Financial Officer (CFO) during the Annual General Meeting in June 2021. Rider, who has served as CFO since 2017, has been recognized for his leadership in enhancing Aegon's financial profile amid a challenging global environment. Chairman William Connelly expressed confidence in Rider's ability to drive Aegon's financial performance, emphasizing the importance of his strategic vision. Aegon, a leading global financial services organization, has a rich history spanning over 175 years.
