There have been a number of changes to the composition of our Boards over the course of 2019 and their size has been significantly reduced.
Effective 3 May 2019, the Euroclear Holding Board was reduced to twelve people. Nine Board members were reappointed and we welcomed three new Board members, Sophie Javary, Anthony Attia and Bert De Graeve.
The following mandates were not renewed at the level of Euroclear Holding: Lieve Mostrey, Eilis Ferran, Bernard Frenay, Inge Boets, Andrew Butcher, Harold Finders, Francis La Salla, Franco Passacantando, Oliver Stuart (who are directors of the main operating company of the group, Euroclear SA/NV) and Patrick Colle, Andrew Murray, Katsunori Obata, Sota Suzuki, and Catherine Langlais, who resigned from the Board. Lieve Mostrey, as group CEO, remains a permanent attendee of the Euroclear Holding Board. I would like to express sincere thanks and recognition to all for their contributions to the Company.
The Euroclear SA/NV (ESA) Board was composed of fifteen Directors including three executive directors and twelve non-executive directors, of whom eight were considered to be independent directors, under the new Belgian Code of Companies and Associations, with effect from the start of 2020.
We welcomed Diana Chan, Yuxin Du, Emeric Laforet and Oliver Stuart to the ESA Board during the financial year.