BELGIUM - Hugo de Vreese, chief executive of the €374m Pension Fund for Statutory Personnel of Flemish public broadcaster VRT, has stepped down to be succeeded by Willy Wijnants.

"As from June 8 2006, Mr Willy Wijnants, the VRT Director of Finance, had been appointed as acting managing director of the VRT Pension Fund for Statutory Personnel by its Executive Board," the fund said.

It has now "unanimously decided" on making the role permanent, the Brussels-based fund added, saying the move was logical.

Operational management remains in the hands of senior investment officer Florent Verberckmoes.

The defined benefit scheme was created in 1998 following VRT's privatisation with BFR1.8bn funding by the government.