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ING Groep N.V. Message Board

  • teknowiz teknowiz Feb 13, 2013 8:33 AM Flag

    Entire management team should be sacked

    How many more quarters of under-performance?

    How long till excuses run out?

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    • ING is a management catastrophe.
      Responsible is the Board of Directors for not taking action.
      They should have fired JH and his team at least 3 years ago.
      And this cost the shareholders many Euro Billions/year.

      Just compare:
      most US banks/insurers perform at cca. 1% of ROA, while ING performs at 0.3% ROA.
      By this basic metrics ING should have net earnings over 10.0B Euros/year,
      the actual performance is cca. 3.0B Euros/year.

      ING is corrupt to the core.

      • 1 Reply to zk2013
      • Well, finally some hope with the new CEO.

        And I hope he can replace the current management,
        call in proven and ambitious bank managers to help him to make ING to work and prosper again.

        I still dont know what ING board were thinking, 4 years ago,
        naming a 65 year old nice guy to CEO post. He proved to be a terrible choice, a simple loss of time for ING.
        He clearly had no ambition, no competence to lead ING out of the mess of 2008 crisis.

        Anyways, I think all shareholders are happy.
        for this new CEO at least shall have ambition,
        I hope he has courage to take the steps necessaary to help ING to recover.

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