Michael R Tovar

ING is a global bank with over 65,000 employees in over 45 countries; providing a wide range of financial products. Report to the CHRO, as a member of the Global HR Management Team. Lead a central team of 30 and a global functional team of 75 performance and reward professionals responsible for executive, equity and broad-based compensation, remuneration regulations, performance management, pensions and benefits, international mobility, and wellbeing. Support the Chair in ensuring the smooth functioning of the Remuneration Committee of the Supervisory Board. • Shareholder approval of board remuneration policies: Designed new remuneration policies for the two-tier boards, along with an extensive stakeholder engagement strategy, to implement shareholders’ rights in the Netherlands. Obtained binding shareholder approval with 94% in favor, 95% four years later. • Total Reward Strategy and Optimization: Lead the review and design of a total reward strategy: “Our People Offer”. Piloted a total reward optimization tool, modeled pinpoint costs/options that met employee expectations. • Wellbeing: Piloting a new, long-term, wellbeing strategy that connects wellbeing into ING’s performance culture and where performance and productivity are integrated with health and wellbeing. The new approach will drive a sustainable high-performance culture, supporting employees and teams to run differently. • Gender Pay: I led the initiative to calculate and publish in 2022, ING’s global gender pay gap – years ahead of regulatory requirements. The adjusted gender pay gap was also calculated and published, using the Blinder-Oaxaca decomposition method, revealing objective reasons for the unadjusted pay gap. • Mobility: Created new and enhanced suite of flexible work options and products not only for mobile employees but also the entire workforce. These offerings, including international remote working, put the company at the top of the market with regards to flexible work options.

Zurich is a leading multi-line insurer, with over 55,000 employees in more than 170 countries; providing a wide range of insurance products for individuals, small, mid-size and large companies, including multinationals. Supported the creation of an Organizational Effectiveness Center of Expertise and built up an Organizational Design practice. • Organizational Design: Designed and implemented a new “Fitness Test” for functions and business units. The “Fitness Test” combines HR data, OD principles, and technology “OrgVue”, to bring value added test results that were included in the CFO’s “Business Unit Performance Reviews”. I also designed and trained HR professionals globally on an end-to-end “OD Toolkit”, to support efficient, effective and sustainable business transformations

My role was expanded to include Performance Management as well as lead a new global initiative on job design. • Global Job Model: Led the design and implementation of a Global Job Model (GJM) – a multi-year project resulting in 40’000 employees mapped to a graded job with access to a job catalog (fit for purpose job profiles in 9 languages) • Performance Management: Working with the data analytics team, employee engagement results and focus groups, we identified several critical issues that were impacting the employee experience. We then implemented changes through plan design, employee education, manager training, and enhanced rating calibration sessions

Led the new compensation Center of Expertise. I worked with regulators and the Group Executive Committee to ensure compensation programs both met regulatory requirements and drove performance through transparency and consistency. • Compensation Center of Expertise: Built a recognized, high performing team (12 directs, 60 indirects) to design and deliver: executive and broad-based compensation, performance management, equity management, short and long-term incentives, salary review, off-cycle events, benchmarking, grading, consulting and governance • Group Short-Term Incentive Plan (STIP): Led the design and implementation of the new Group STIP impacting 40,000 employees in 50 countries. These changes improved engagement by shifting the conversation with managers and employees to the performance rating, providing full transparency of business results and the award calculation

Led a team of 20 professionals across Region Europe, Middle East and Africa (EMEA), working with the management team and country CEOs to ensure compensation programs were fit for purpose for the business strategy. Acted as the Compensation Partner for the General Insurance business globally. • Region EMEA: Assessed and developed the team, harmonized compensation designs and processes in the region • Incentive Plan Design: General Insurance was reorganized; I redesigned and aligned the short-term incentive plan

Tetra Pak is privately held and one of the world’s leading providers of processing and packaging solutions for food. Tetra Pak is one of three companies in the Tetra Laval Group with 30,000 employees in more than 100 countries. Led compensation and benefits for Tetra Pak globally. This role was subsequently expanded across the Tetra Laval Group. In this capacity I also supported the Remuneration Committee of the Tetra Laval Group Board. • Group Remuneration Committee: Supported the Chair in ensuring a well functioning Remuneration Committee • Group Pensions Management: Drove a three-year global pension project focusing on: compliance, cost containment, consolidation and competitiveness

Managed international assignments and quickly became the lead for the Group’s long-term employee benefits. • Tax Compliance: Supported a two-year project to bring remuneration programs globally into legal / tax compliance • International Pension Plan: Designed and implemented a pension plan for 1,000 globally mobile employees • UK Pensions: Certified as a UK pension trustee and led a successful project to modernize plan operations • Mergers & Acquisitions: Led due diligence on acquisitions and HR integration teams for newly acquired companies

Tetra Pak USA has several lines of business with 1,500 union/non-union employees in over 40 states. Over a period of five years with Tetra Pak Inc. US, designed and implemented end to end HR shared services for Tetra Pak and its Tetra Laval Group affiliated companies that resulted in $2M savings. During the last year I took on an additional role as the HR Business Partner for the Processing Division supporting the CEO and the management team. • Total Rewards: Designed a total rewards philosophy and strategy for Tetra Pak, incorporated this in all HR activities • Health Benefits: Created a three-year cost savings strategy including benefit design, wellness and financial vehicles • Recruitment: Established a centralized recruiting department, improved the quality, diversity and selection of candidates • Union Negotiations: Drove cost reductions directly with unions in the areas of health and pension benefits

Educated adults in a wide range of courses including: Logic and Critical Thinking, Ethics, Introduction to Philosophy, Introduction to Religion, World Religions, Social and Political Philosophy (22 courses taught, typical class size 30 students). My areas of specialization were logic, business ethics and world religions.

Educated adults in the following courses: Introduction to Philosophy and Business Ethics (5 courses taught, typical class size 30 students).

Mobilizing People is a year-long, highly experiential program for executives, which explores oneself, how effective one’s team leadership style is and what happens below the surface of team dynamics. One completes the course with a clear sense of how to energize and mobilize people to reach a common goal, through authentic and effective leadership; leaving one equipped to bring out the best in others, one’s team and oneself. Program includes: • Discuss the latest thinking on leadership • Experience team leadership situations and experiment as a leader • Receive intense individual feedback and coaching • Develop strong team leadership capabilities and team management skills • Learn to mobilize people toward key business goals, to renew one’s energy and reap benefits in one’s personal life

Completed comprehensive exams in the following areas: logic and symbolic logic, metaphysics and epistemology, ethics and aesthetics, and the history of philosophy