60 All members of the Supervisory Board are considered  independent under the terms of the Dutch Corporate  Governance Code, with the exception of Kornelis J. Storm.  Mr. Storm is not regarded as independent within the  definition of the Code since he served as Chairman of  AEGON’s Executive Board prior to his retirement in  April 2002. Mr. Storm joined the Supervisory Board in  July 2002. In April 2010, shareholders reappointed  Mr. Storm for a term of four years.  This Annual Report includes the annual accounts for  2010, prepared by the Executive Board, discussed by  both the Audit Committee and the Supervisory Board,  and submitted to shareholders for adoption. The  Supervisory Board recommends that shareholders adopt  these annual accounts.  The year 2010 was a challenging period for AEGON, and  we expect the coming years to be equally demanding.  The members of the Supervisory Board would like to  thank both the Executive and Management Boards and  the company’s employees for their dedication and  commitment in facing up to the challenges of the year  and staying focused on AEGON’s customers. They are  also grateful to AEGON’s customers for trusting the  company with their business. The Supervisory Board is  confident that management and employees are on the  right track to execute AEGON’s strategic priorities and to  guide the company towards renewed prosperity. In 2010, the mandate of Dudley G. Eustace expired.  He was succeeded as Chairman of the Supervisory Board  by Robert J. Routs in April 2010. The current terms of  Mrs. Karla Peijs, Mr. Antony Burgmans and Mr. Leo van  Wijk will expire in 2011. On advice from the Nominating  Committee, the Supervisory Board has decided to  nominate these persons for reappointment as members  of the Board for further terms of four years each by the  General Meeting of Shareholders. Their biographies will  be provided with the agenda for the 2010 General  Meeting of Shareholders. Taking into account the  changes detailed above and the resignation of Mrs.  Cecelia Kempler beginning 2011, the Supervisory Board  will likely consist of ten members after the annual  General Meeting of Shareholders on May 12, 2011. The Hague, March 23, 2011 There were no changes in the composition of AEGON’s  Executive Board. In compliance with the Dutch Corporate  Governance Code, members of the Executive Board are  appointed by shareholders for a term of four years,  with the possibility of reappointment for subsequent  four-year terms.  The current term of Mr. Alex Wynaendts will expire in  2011. On advice of the Nominating Committee,  the Supervisory Board has decided to nominate  Mr. Wynaendts for reapointment as member of AEGON’s  Executive Board for a term of four years. The retirement schedule members of the Executive  Board is included in the company’s Executive Board  Rules and posted on AEGON’s corporate website,  www.aegon.com.  In 2011, AEGON announced that Cecelia Kempler  would be stepping down as a member of the  Supervisory Board due to health reasons.  Ms. Kempler, a US citizen, was elected to the  Supervisory Board in 2008. Her term was due to  expire in 2012. Ms. Kempler has been an  outstanding member of AEGON’s Supervisory  Board and AEGON has benefitted significantly from  her in-depth knowledge of the insurance business  in general and AEGON in particular. She has had a  career-long involvement with leading industry  organizations dedicated to the promotion of high  ethical standards in the insurance sector. The  Supervisory and Executive Boards would like to  express their gratitude for her years of dedicated  service to the company in several roles, and they  extend their best wishes to her. Resignation Cecelia Kempler  Executive Board  Acknowledgement  Annual accounts  Composition of the Supervisory Board Robert J. Routs Chairman of the Supervisory Board of AEGON N.V.