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IIRC Appoints Peter Bakker as Deputy Chair

Posted 20 July, 2012

IIRC Appoints Peter Bakker, President of World Business Council for Sustainable Development, as Deputy Chair

London (July 20th) – The International Integrated Reporting Council (IIRC) today announces the appointment of Peter Bakker as a Deputy Chair.  Peter is  President of the World Business Council for Sustainable Development, a CEO-led global coalition of some 200 companies (who between them cover all business sectors, every continent, and account for over $7 trillion in revenue).

Peter’s  involvement  will be critical in building business support for integrated reporting <IR> as the IIRC prepares to circulate a prototype International Integrated Reporting Framework at the end of 2012, ahead of releasing a Consultation Draft of the Framework in early-mid 2013, and publishing “version 1.0” of the final Framework in late 2013.

Until June 1, 2011, Peter was the CEO of TNT NV, the Netherlands-based holding company of TNT Express and Royal TNT Post (formerly TPG Post). Under his leadership, TNT, with a turnover of €11,329bn (2010) was recognised for innovative corporate leadership such as linking manager compensation to non-financial goals, extensive operational research, and multiple-year leading positions in the Dow Jones Sustainability Index. During his tenure, he also led the demerger of TNT into two separately listed companies: TNT Express NV and PostNL NV.

Commenting on the appointment, Professor Mervyn King, Chairman of the IIRC, said:

“Peter Bakker’s global business acumen will strengthen our capabilities as the IIRC forges ahead with the development of the Framework. Integrated Reporting <IR> is  driven by business needs to gain greater insights into how a company creates and preserves value over the short, medium and long-term.

“At the WBCSD Peter is an ambassador for sustainable business practice.  WBCSD’s recent research revealed that the world’s population will grow from 7 billion to 9 billion in the next 35 years.  Global business leaders need not only to change the way they think and behave, they also need a new language to communicate with investors and other stakeholders to show how they are creating and preserving value.  <IR> is the language of sustainable business.

Peter becomes Deputy Chair at a time when   the concept of ‘integration’ is  gaining momentum as a vital step in the evolution of corporate reporting globally.  We look forward to benefiting from his passion and sense of mission.”

Peter  joined Royal TPG Post in 1991 and was appointed financial director of its parcels business unit in 1993. He became financial control director of TPG Post in 1996 and a member of the Board of Management of TPG Post in 1997. Since the split of TPG N.V. from Koninklijke PTT Nederland N.V. until his appointment as CEO in 2001, he was chief financial officer and a member of the TPG Board of Management.

Peter is a respected leader in Corporate Responsibility and Sustainable Business. He was the recipient of the Clinton Global Citizen Award in 2009 and the SAM Sustainability Leadership Award in 2010. In 2011, he was the UN’s  WFP Ambassador Against Hunger. In addition, he is the Chairman of War Child Netherlands.

NOTES TO EDITORS:

  • The IIRC’s mission is to create the globally accepted Integrated Reporting (“<IR>”) Framework that elicits from organisations information about their strategy, governance, performance, and prospects in a clear, concise and comparable format. The <IR> Framework will underpin and accelerate the evolution of corporate reporting, reflecting developments in financial, governance, social, and sustainability reporting
  • Our vision is for <IR> to be accepted globally as the corporate reporting norm, benefiting organisations, their investors, and other stakeholders by enabling informed decision-making that leads to efficient capital allocation and sustainable value creation in the short, medium and long-term.
  • The Framework will accelerate the global evolution of corporate reporting because organisations will be able to:

o Contribute and share their observations about factors contributing to the creation of value;
o Embed the Framework within their own strategy.

  • The IIRC’s Pilot Programme, comprising over 70 organisations and 20 investors from around the globe, is designed to test the principles, content, and practical application of <IR> and develop the Framework. The Framework will help ensure consistent reporting by organisations and provide broad parameters for policymakers, regulating organisations, their investors, and other stakeholders. For more detailed information about the members of the Council, participants in the Pilot Programme, and the IIRC’s activities, please consult the website: https://integratedreporting.ifrs.org.