Kendrion Shareholders Appoint Frits Van Hout as Supervisory Board Member and Chairman

Amsterdam, the Netherlands – Kendrion N.V. confirms that all resolutions that were brought up for vote were adopted by the general meeting of shareholders earlier today. In accordance with the applicable COVID-19 measures, the meeting was held virtually without shareholders being physically present.

Mr. Frits van Hout was appointed to the Supervisory Board of Kendrion N.V. for a period of four years. Frits van Hout is a seasoned professional with international experience who is known for his extensive technical expertise as well as his design and development experience. Van Hout will succeed Mr. Henk ten Hove as Chairman of the Supervisory Board and member of the HR Committee. Henk ten Hove served as a Supervisory Board member and Chairman since 2013.

Joep van Beurden, Kendrion CEO. “We welcome Frits van Hout as new member and Chairman of the Supervisory Board. Frits van Hout brings excellent vision and international experience around transformation and technology innovation, which is highly relevant for the markets where we operate. I also want to express my deep appreciation to Henk ten Hove, the departing Chairman of our Supervisory Board, for his significant and invaluable contribution to Kendrion over the past eight years. He has provided consistent and thoughtful guidance and oversight throughout his time in the Supervisory Board.”

The shareholders also approved the distribution of a dividend of EUR 0.40 per share, representing a payment of dividend of 50% of the normalised net profit for 2020. The payment of the dividend will be made in cash, or, at the option of shareholders, in the form of ordinary shares.

The voting results per agenda item are published on the Kendrion website.

Profile of Kendrion N.V.

Kendrion develops, manufactures and markets high-quality electromagnetic systems and components for industrial and automotive applications. For over a century, we have been engineering precision parts for the world's leading innovators in passenger cars, commercial vehicles and industrial applications. As a leading technology pioneer, Kendrion invents, designs and manufactures complex components and customised systems as well as local solutions on demand.

We are committed to the engineering challenges of tomorrow, and taking responsibility for how we source, manufacture and conduct business is embedded into our culture of innovation. Rooted in Germany, headquartered in the Netherlands and listed on the Amsterdam stock exchange, Kendrion's expertise extends across Europe, to the Americas and Asia. Created with passion and engineered with precision.

For More Information, Please Contact:
Kendrion N.V.
Mr. Joep van Beurden
Chief Executive Officer
Tel: +31 85 073 1504

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