New Board of Directors with as many women as men

New Board of Directors with as many women as men

The board of directors of Quest for Growth proposes to appoint Ms Véronique van Ockenburg-Léonard as the new independent director of Quest for Growth. Véronique van Ockenburg-Léonard is a managing director of Bank Van Breda. She has a wealth of experience as CEO, CFO, Chief Credit Officer, Head of Data & Business Insights and is member of the board of directors and audit committee with various companies.

Additionally, Ms Sabine Vermassen would be nominated as a new director on the proposal of the holders of preferential shares. Sabine Vermassen has been a member of the executive committee of Capricorn Partners since 2017 and executive officer of Quest for Growth since 2022.

The board of directors also proposes the reappointment of Mr Philippe de Vicq de Cumptich, Ms Regine Slagmulder, Mr Jos Peeters and Mr Paul Van Dun, whose mandates will expire in March 2023, as directors. Mr Jos Clijsters, currently appointed as representative of the holders of the (to be abolished) class B shares until 2024, would be reappointed as director on the nomination of the holders of the ordinary shares for a term of 3 years until 2026.

These proposals will be submitted for approval to the general assembly on 30 March 2023 and are subject to approval by the FSMA and to the prior approval by the extraordinary general meeting of the proposed amendment to the articles of association whereby, among others, the holders of preference shares would be entitled to only nominate two candidate directors instead of four.

Mr Antoon De Proft, Mr René Avonts, Mr Michel Akkermans and Ms Liesbet Peeters have indicated they are no longer available for a new mandate.

The board of directors is sincerely grateful to the departing directors for contributing to the smooth operation of Quest for Growth for so many years. Antoon De Proft has been an independent director for 12 years and the first independent chairman of Quest for Growth. René Avonts has been a director since the start of Quest for Growth in 1998, and between 2003 and 2012 he was the managing director of the administrator of Quest for Growth. Michel Akkermans and Liesbet Peeters have been directors since 2004 and 2017 respectively.

After the proposed changes, the board of directors of Quest for Growth would consist of eight members (two of whom unpaid) rather than the current ten members (one of whom is unpaid). In addition to three independent directors, who all meet the requirements of the Belgian Corporate Governance Code, the board would consist of an equal number of men and women.

The board of directors intends to designate Ms Brigitte de Vet-Veithen as the new chairman to replace Mr Antoon De Proft. She is the Vice President of Materialise and heads Materialise Medical. Brigitte de Vet-Veithen has been an independent director of Quest for Growth since March 2022.

Furthermore, the audit and risk committee has been planned to include the following members: Mr Paul Van Dun (chairman), Ms Regine Slagmulder and Ms Véronique van Ockenburg-Léonard. The nomination and remuneration committee would consist of Ms Brigitte de Vet-Veithen (chairman), Mr Jos Clijsters and Mr Paul Van Dun.