He currently runs NN Group and has close to 30 years financial services experience, having worked at Aegon between 1993 and 2003.
The intended appointment has been approved by Aegon’s regulators.
The two men will work closely together from March 2020 to ensure a smooth transition, with Wynaendts remaining available to the company as an adviser until 30 September 2020.
He commented: “It has been a great privilege to lead Aegon during these past 11 years and to work with so many dedicated colleagues around the world to help our nearly 30 million customers secure their financial futures.
“I am very proud that we have successfully transformed Aegon and the company is now well positioned to realise its full potential. This creates a natural moment for me to hand over to my successor, who I welcome back to Aegon.”