NETHERLANDS – Janpiet Nelissen, managing director of the Stichting Pensioenfonds Hoogovens has retired.
Nelissen had been managing director of the 3.9 billion euro Hoogovens pension fund since 1993.
He is being replaced by Hans van de Velde, director of Hoogovens pensions department.
Last year the Hoogovens fund returned –7.3%, compared to WM Co.'s Dutch pension funds universe return of –8.1%. WM measures 162 pension funds.
The fund is the pension scheme for Hoogoven’s employees. Dutch steelmaker Hoogovens was acquired by British Steel, and is now part of the rebranded Corus group.