July 7, 2023 –WILLEMSTAD – Eugene Rhuggenaath has been assessed and approved by De Nederlandsche Bank as the Chairman of the Supervisory Board of the Caribbean Netherlands Pension Fund (PCN). The Central Bank in Amsterdam has confirmed that Rhuggenaath meets all the suitability and reliability requirements for this prominent position.
The PCN board has already had extensive discussions with Rhuggenaath in recent weeks and is pleased with his appointment. “With Rhuggenaath, we have a Chairman of the Supervisory Board who brings a wealth of knowledge and expertise and is well acquainted with our islands,” said PCN Chairman Harald Linkels.
In addition to Rhuggenaath, the Supervisory Board consists of former BZK official Kees Maas and former Lieutenant Governor of Bonaire, Herbert Domacassé.
Rhuggenaath’s appointment as Chairman of the Supervisory Board of PCN is an important step for the foundation, which advocates for the interests of pensioners in the islands of the Caribbean Netherlands.
De Nederlandsche Bank’s decision follows a careful assessment, which involved consulting various sources of information, including information provided by Rhuggenaath himself, supervisory information, and public information.
Consideration was also given to the role Rhuggenaath will fulfill, the nature and scope of PCN, and the composition and functioning of the board.
De Nederlandsche Bank emphasizes that suitability is an ongoing requirement, and a new assessment may take place if there is reasonable cause.
Furthermore, any new or changed information that may impact Rhuggenaath’s reliability must be immediately and without delay reported to the Bank. Such changes may lead to a reassessment of reliability.