Philipp von Restorff will take up his new post on 1 March 2023 Photo: Romain Gamba/Maison Moderne/Archives

Philipp von Restorff will take up his new post on 1 March 2023 Photo: Romain Gamba/Maison Moderne/Archives

Three days after Luxembourg for Finance announced his departure as deputy CEO, Philipp von Restorff has been revealed as the new CEO at the Luxembourg Institute of Directors (ILA).

Since September 2022, the Luxembourg Institute of Directors (ILA) has been looking for a successor to its CEO, Véronique Vansaen, who left for the UEL (Union des entreprises luxembourgeoises) as a management consultant. Von Restorff will replace her from 1 March.

"Mr von Restorff has considerable experience of governance in the Luxembourg financial sector, a central aspect of ILA’s work. As well as serving as deputy CEO of Luxembourg for Finance for nearly four years, he is on the boards of directors of the Luxembourg Sustainable Finance Initiative and the LuxFLAG fund labelling agency. He was previously adviser to the management board – head of communication and board secretary with the Luxembourg Bankers’ Association (ABBL),” the ILA says in a release.

Supporting the development of the ILA

“We are delighted to have Philipp von Restorff join ILA as CEO,” said , chair of the ILA board. “Our association has grown considerably over recent years, both in terms of membership and activities. This growth indicates the increasing importance of governance related topics in all parts of our economy and society,” she said. “Philipp’s experience means he is the perfect fit to lead ILA in its next phase of development,” she added.

For his part, the new CEO said: “Boards of directors play an essential role. Beyond their control function, they are responsible for the strategic direction of their organisation. At a time when companies must embrace sustainability, sound and responsible corporate governance has never been more important. Since it was founded in 2005, ILA has striven to strengthen this key function, and I am looking forward to contributing to this important mission, working with the ILA team and the wider governance community in Luxembourg, Europe and beyond.”

This story was first published in French on . It has been translated and edited for Delano.