16 Related parties

FMO considers the Dutch Government, subsidiaries, associates, the Management Board and the Supervisory Board as related parties.

In the first half of 2025 the following changes in the composition of the Management Board of FMO have occurred. Effective April 1, 2025, Fatoumata Bouaré, Chief Finance & Operations Officer, has left FMO. Fatoumata served as a member of the Management Board for seven and a half years.
On April 23, 2025, during the Annual Meeting of shareholders of FMO the re-appointment of Michael Jongeneel as CEO and Huib-Jan de Ruijter as Co-CIO were confirmed. All Management Board members have been (re-)appointed for four years.
Effective July 1, 2025, Peter Maila, Co-Chief Investment Officer, has left FMO. Peter joined FMO as a member of the Management Board since December 1, 2022.

In the first half of 2025 the following changes in the composition of the Supervisory Board of FMO have occurred. On April 23, 2025 at the end of the Annual General Meeting of shareholders of FMO, Dirk Jan van den Berg, member and chair of the Supervisory Board of FMO stepped down after completing his second and final term. During the same Annual General Meeting of shareholders Rob Becker was appointed as a new member and the chair of the Supervisory Board. He is appointed for a term of four years and serves on the Selection Appointment and Renumeration Committee.

In the first half of 2025 there were no transfers from public funds managed on behalf of Dutch Government to FMO.