Probe finds alleged bullying at Volksbank – Het Financieele Dagblad

A governance probe following the departure of several key executives at Dutch lender Volksbank NV has allegedly found "bullying and intimidation" within the organization and its management, Het Financieele Dagblad reported.

The investigation, which ran in the course of several months, also suggested that the relationship between the executive board and the supervisory board of the state-owned bank has not always been healthy, the newspaper said.

In 2020, three senior executives left Volksbank, including CEO Maurice Oostendorp and CFO Pieter Veuger, who filed a lawsuit against the bank after being dismissed only five months into the job. The suit was suspended in September 2020 after Veuger received assurance there will a governance probe at the bank.

The most recent departure was that of COO Mirjam Verhoeven, who resigned in November 2020.