Gimv’s Vandeurzen to step down in June as part of succession

According to Gimv, Vandeurzen's resignation will be formally announced during the GP's upcoming yearly shareholders meeting, to take place on 29 June 2016. A spokesman at the listed firm told unquote" that no names have as yet been considered to replace him as chair of the board of directors.

Vandeurzen was appointed as head of Gimv's executive body in June 2011. Over the past four and a half years, he has worked alongside fellow member and CEO Koen Dejonckheere and directors Dirk Boogmans, Brigitte Boone, Marc Descheemaecker, Christ'l Joris, Hilde Laga, Sophie Manigart, Luc Missorten, Karel Plasman, Marc van Gelder and Bart van Hooland.

The executive is one of the five managers at Gimv to have joined its board upon request of the Flemish government. Aside from co-founding private-equity-backed engineering specialist LMS International in 1980, Vandeurzen has been vice-president of the Federation of Enterprises in Belgium and vice-chaired the Leuven Chamber of Commerce and trade body Agoria Flanders.

A director at Gimv from 1996-2003, he currently chairs the Opening the Future and Ondernemingsplatform Limburg initiatives. In addition, he is honorary president of VOKA-Vlaams Economisch Verbond, and was appointed as director of Vanbreda Risk & Benefits and Unibreda in April 2015.

Vandeurzen's resignation marks the end of a five-year transition by Gimv into platform-focused investment.

Set up between 2012-2013, the scheme has seen the listed GP evolve from an unstructured, deal-by-deal investment strategy to one where deals are sourced and executed via four separate platforms: Connected Consumer, Health & Care, Smart Industries and Sustainable Cities.

The latter unit, used during the recent double acquisition of Itho Daalderop and Klimaatgarant, will feature in an unquote" outlook on green investments later on this week.

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