The role of ING Continuity Foundation is to ensure ING's continuity.
Should a hostile takeover attempt ever occur, this foundation can exercise its call option right for as many cumulative preference shares as are necessary in order to hold one third of the issued share capital. This is the only protective measure maintained by ING Group. This construction is aimed at gaining time to find a good solution should such a situation ever arise.
ING Continuity Foundation has full autonomy and independent board.
The composition of the Board of ING Continuity Foundation as of 12 May 2020 is as follows:
- Sebastian Kortmann, chairman
- Rob van den Bergh
- Allard Metzelaar
- Pieter Witteveen