Fortis investor groups propose alternative board

AMSTERDAM (Reuters) - Dutch and Belgian shareholder groups proposed on Friday an alternative list of nominees to the Fortis (FOR.AS) (FOR.BR) board of management ahead of shareholder meetings next week to vote on a change of company management.

Fortis shareholders will gather in the Dutch city of Utrecht and the Belgian capital Brussels on Monday and Tuesday to vote on an overhaul of its board of directors, including the replacement of its chief executive, Herman Verwilst.

But the Dutch shareholder group VEB and Belgian shareholder group Deminor have raised objections to Fortis's nominees and have put forward an alternative list, urging for their list to be voted on should shareholders vote against Fortis's nominees.

Fortis was not immediately available for comment.

Fortis was carved up by the Dutch, Belgian and Luxembourg governments in October, with BNP Paribas (BNPP.PA) buying the Belgian operations, after an earlier 11.2 billion euro ($14.5 billion) cash injection failed to calm investor concerns.

The deals left Fortis Group with only its international insurance business and a 66 percent share of a 10.4 billion euro portfolio of structured credit products.

Last week, a Belgian court rejected shareholder claims that the dismantling of Fortis required their approval, although it did rule that a panel of experts should examine the details. An appeals court judgment is expected next week.

A Dutch court this week turned down a request from two shareholder groups to halt the breakup of Fortis, but it too ordered a further investigation.

($1=.7728 Euro)

(Reporting by Aaron Gray-Block, editing by Gerald E. McCormick)