Next50 Non-Executive Directors
Next50 Non-Executive Directors 2024
The Next50 2024: the number one on our list of emerging top supervisory directors is once again a man, but this time not white or belonging to the old guard. Also noteworthy: half of the pipeline to top supervision is now female, although men still dominate the top 10. When it comes to age diversity, there is still much to be desired.
Read also: our analysis of the Next50 Supervisory Directors 2024
(31) Kuldip Singh
Kuldip Singh added a supervisory board position at TenneT to his already well-filled portfolio (with supervisory roles at KPMG, Whiffle, Kyndryl Nederland (chairman at both), ROM InWest, InnoSportLab and the Children's Telephone). This makes Singh the new No. 1 on the Next50. As the leader of the list, he seems to represent a new type of supervisory director: extensive experience with digital transformation, relatively young (50), and a multicultural background (he grew up in Amsterdam, but was born in India, where he also lived and worked for three years starting in 2011).
(-) Essimari Kairisto
At No. 2 we find Essimari Kairisto, also a Supervisory Board member of TenneT and, since last year, of soil research company Fugro. The German-Finnish has a background in the energy and infrastructure sector, most recently as CFO of German company Hochtief Solutions. Kairisto is the highest-ranking woman and foreigner on the list.
(-) Kim Smit
The No. 3 is also a woman, but one who is native to the Netherlands: Kim Smit. The former Shell woman last year added a supervisory board position at wholesaler and tax-free operator B&S Group to her already overflowing basket (totaling nine) of supervisory positions. The modest-sounding diminutive ‘basket’, with which some commissioners affectionately refer to their portfolio, is really not applicable here. A golden skirt? Just say platinum.
(-) Lard Friese
The top 3 of the list consists entirely of professional supervisory directors. Not until the fourth position do we encounter the first supervisory director who is also active in management: Lard Friese (No. 4), CEO of insurer Aegon since 2020. Friese joined the Supervisory Board of sector associate a.s.r. Nederland last year. That company took over the Dutch operations from Aegon for nearly 5 billion euros, which in turn took a stake of nearly 30 percent in a.s.r. The supervisory board of Friese is a result of that deal.
(-) Marga de Jager
ANWB, the largest association in the Netherlands with more than five million members, is another major provider of insurance. CEO Marga de Jager (No. 5) had her hands full last year restoring profits ‘at home’, but apparently still found time for a supervisory directorship at telecom company KPN.
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Justification
A non-executive director is eligible if he or she holds one or more positions as a Supervisory Board member or Director at the major companies in the Netherlands. By this we mean companies listed on the AEX, AMX (MidCap) or AScX (SmallCap) index and unlisted companies with an equity capital of more than 500 million euros. Unlike the Top-100 Non-Executives, it is not just about the points. The timing of the supervisory board memberships should also be taken into consideration: Non-execs should be evolving, not deteriorating. From the universe of non-execs at the above-mentioned companies, non-executive directors have been selected who still have a management position or who had until recently. Candidates must also have accepted new directorships within the last two years. The reference date is 1 February 2024.
Allocation of Points
The Supervisory Board members are awarded points based on the level of the equity capital of the companies where they hold a position. Supervisory positions at these companies weigh more heavily than executive roles. In addition, the members of the Supervisory Board receive points for chairmanships of supervisory boards, chairmanship positions of boards of directors and chairmanships of audit, remuneration and nomination committees.
Finally, points are awarded for supervisory positions at large foreign companies, universities, colleges, hospitals and other large companies.