Fortis appoints new CEO
Troubled banking and insurance group Fortis has announced Bart De Smet as its new CEO. He is currently CEO of Fortis Insurance Belgium, which this week will be renamed AG Insurance.
He will take over from Karel De Boeck who has resigned after taking on the job last December, when the future of the company looked uncertain.
Last October, Fortis was carved up by the governments of Belgium, the Netherlands and Luxembourg after its €11.2 billion ($19.6 billion) bailout failed to stop the company’s value from being wiped out on the stock market.
He will take over from Karel De Boeck who has resigned after taking on the job last December, when the future of the company looked uncertain.
Last October, Fortis was carved up by the governments of Belgium, the Netherlands and Luxembourg after its €11.2 billion ($19.6 billion) bailout failed to stop the company’s value from being wiped out on the stock market.