FMO’s Peter van Mierlo steps down as CEO

Posted on: 11 June, 2020 at 4:58 PM

The chairman of the Dutch Entrepreneurial Development Bank (FMO) Peter van Mierlo has announced that he will step down as the organisation’s CEO.

FMO empowers entrepreneurs in developing countries to build a better world. At his appointment in July 2018, Van Mierlo was tasked to make the organisation future proof. Specific attention was required for the organisation’s compliance and ‘know your customer’ (KYC) processes as well as more transparent reporting and communication around FMO’s investments. Over the course of the past two years, significant progress in this transformation process has been made.

Van Mierlo says, “It is essential that FMO’s transformation continues with zeal, energy and perseverance. For all who work at FMO, the organisation’s stakeholders and the work FMO does. The organisation is on the right course to secure its future role but is not quite there yet. Significant steps have been made, however along the way there were increasingly discussions around the way the transition was led; as a result, I noticed that my effectiveness decreased. All energy needs to go to the transformation itself and I do not want to be an obstacle to making this happen. Therefore, I have informed the supervisory board of my decision to step down as FMO’s CEO. This decision is made with a heavy heart, but the organisation needs to come first.”

Chairman of the supervisory board, Dirk Jan van den Berg says, “We regret Peter’s decision to leave the organisation. These past two years, he has made a tremendously valuable contribution to the transformation of the organisation. His vision, focus on development and sharp eye will be missed. The supervisory board will now assess his succession.”

The supervisory board has asked Peter to stay for another three months in an advisory role to the management board, to chief risk and finance officer (CRFO) Fatoumata Bouaré and chief investment officer (CIO) Linda Broekhuizen.

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