Financial director Volksbank catches up with millions after being fired | Financial

The judge concluded that there was no evidence of repeated harassment against Chief Financial Officer (CFO) Pieter Veuger, who was fired from De Volksbank last year after six months. “There must have been some animosity,” the verdict reads. But: “The board’s attempt to convince Veuger to take the time to grow into his new role has not prompted him to be more prudent.”

Veuger joined the parent company of SNS, ASN and RegioBank on 1 January 2020. After a little more than six months later, he had to leave the field again because of a sick working atmosphere.

Initially, a judge ruled that Veuger had been properly dismissed. Subsequently, the Arnhem-Leeuwarden Court of Appeal found that De Volksbank had to continue to pay the former CFO longer, because he could invoke the prohibition of termination during illness. But through proceedings on the merits at the court in Utrecht, Veuger is now receiving a bid for a compensation of €2.8 million.

De Volksbank lost three board members in a year. After CEO Maurice Oostendorp retired a year ago and Veuger was fired, operating officer Mirjam Verhoeven resigned out of dissatisfaction. A report then spoke of bullying at the top of the state bank, although this would not be structural. In March, Supervisory Board President Jan van Rutte announced his early departure.

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