Diversity and inclusion

FMO promotes diversity at all levels, including for the Management Board and Supervisory Board. FMO’s diversity policy is embedded in several documents and ways of working. The aim of our diversity policy is to have well-balanced boards, which are up to their task and can come to good solutions, while considering the members’ different perspectives, backgrounds and experiences.

The Supervisory Board aims for a diverse composition with respect to gender, education, experience and age as well as relevant knowledge, expertise and experience in the business areas in which FMO is active. Similar diversity aspects apply to the composition of the Management Board with respect to experience, expertise, gender, cultural background and age. This is deemed important to ensure effective supervision and effective management, respectively, and, by extension, for long-term value creation. In line with FMO’s diversity policy, included in the Supervisory Board Profile and in the Management Board Standing Rules, and in line with the Act on Gender Balance in Management and Supervisory Boards (In Dutch: ‘Wet evenwichtiger verhouding tussen mannen en vrouwen in bestuur en raad van commissarissen’), FMO strives to meet the gender target.

For the Supervisory Board, the target is for the board to consist of at least one third men and at least one third women. The Supervisory Board consists of six members. In 2023, there was one vacancy. During the entire year, the Supervisory Board consisted of two women (40 percent) and three men (60 percent). The candidate considered for the vacant position is a woman. One of the Supervisory Board members is non-Dutch and holds the Ghanaian and British nationality.

FMO’s Management Board consists of five members. The aim is for the board to consist of at least one third men and one third women. At year end, the Management Board consisted of two women (40 percent) and three men (60 percent). The Management Board consists of one Ivorian member, one member with the South-African and British nationality and three members with the Dutch nationality.

In both boards, the ages of the members are well distributed, and knowledge and experience comply with the applicable matrices.

When vacancies arise, the Selection, Appointment and Remuneration Committee and the Supervisory Board give due consideration to any applicable gender requirements in its search for suitable new members with respect to meeting the fit and proper requirements as stipulated in the Dutch Financial Markets Supervision Act. As a collective, the members should have the required expertise with regard to development banking and the aspects that come with it, aimed at FMO’s working area. This is further described in the applicable Profile and Standing Rules and, when vacancies arise, in the respective job profiles.