Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 150

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 150
---
Item 6. Directors, Senior Management and Employees
A.    Directors and senior management
Executive Board
Roles and responsibilities 
The Executive Board (EB) is entrusted with the management of ING Group and its subsidiaries and is responsible for the continuity and long-term value creation of ING. This includes the day-to-day management of the business and setting ING’s strategy, the responsibility of which is vested in the members 

of the EB collectively. The organisation, main roles and responsibilities of the EB are set out in the Management Board Charter, which is available on ing.com.
The EB performs its activities under the supervision of the Supervisory Board (SB). The Articles of Association, the Management Board Charter and the Supervisory Board Charter, which are available on ing.com, outline which resolutions of the EB are subject to approval by the SB.
ING Group indemnifies the members of the Executive Board as far as legally permitted against direct financial losses in connection with claims from third parties filed, or threatened to be filed, against them by virtue of their service as a member of the Executive Board in accordance with the Articles of Association and their commission contract. ING Group has taken out liability insurance for the members of the EB.
Composition and diversity
ING Group aims to have an adequate and balanced composition of its EB, with a diverse selection of persons with knowledge, skills and executive experience, preferably gained in the banking sector, experience in corporate governance of large stock-listed companies and experience in the political and social environment in which such companies operate. In the selection of the members of the EB, ING strives for a balance in nationality, gender, education and work background. In addition, there should be a balance of experience and affinity with the nature and culture of the business of ING. We believe that diverse leadership at the level of the EB fosters a diversity of views and experiences and facilitates independent opinions and sound decision-making, which has a positive impact on ING’s business. The Dutch Gender Diversity Act requires ING to set appropriate and ambitious targets for gender diversity in its EB and senior management. As such, ING applies a gender diversity target of at least 30 percent to the EB. In addition, there should be a balance of experience and affinity with the nature and culture of the business of ING. Factors such as nationality, age and education are also taken into account for the composition of the EB. Also, the EB had an international composition in 2024, with one board member of Dutch nationality and two board members with other national