United States. It typically engages in infrastructure and facilities investments at such airports in exchange for a stable dividend stream to achieve a return on its equity. During October 2008, it was announced that the boards of Aéroports de Paris and the Schiphol Group had agreed to take stakes of eight percent each in the other's companies; this move resulted in the formation of the world's largest airport group. Schiphol Group has stated that its involvement in such international partnerships has multiple benefits to its core business, including gaining experience of various business models and developing brand awareness. In 2011, the Schiphol Group signed a cooperation agreement with both Aéroports de Paris and Incheon International Airport to cooperate on their customer relations and marketing activities; this arrangement was subsequently renewed by all participants three years later. During March 2014, the Schiphol Group acquired 38.85% of the AREB property fund; this gave it control over 17 strategic properties at Amsterdam Airport. One year later, the Schiphol Group announced the sale of a 60% stake in Schiphol Airport Retail, the entity that handles retail stores within the airport, to Heinemann Duty Free & Travel Value. The revenue from retail sales has reportedly been replaced by both a concession fee and a share in the results of associates. During March 2016, the Schiphol Group authorized the construction of a new terminal at the Amsterdam Airport Schiphol, scheduled to be ready by 2023, with a capacity of 14 million passengers per year. That same year, to mark the company's 100 years of operation, Schiphol Group was awarded a royal seal by Willem-Alexander of the Netherlands; accordingly, it was given the right to name itself the Royal Schiphol Group. Shortly thereafter, a crown was added to its company logo. In September 2022 CEO Dick Benschop resigned following months of chaos and queues at Schiphol Airport. In October 2022 it was announced that the Schiphol Group gained a 40% share in the Maastricht Aachen Airport. Financial structure Shareholder of The Schiphol Group is 100% shareholder of Amsterdam Airport Schiphol, Rotterdam The Hague Airport, and Lelystad Airport. It also owns 51% of Eindhoven Airport, 40% of Maastricht Aachen Airport and 19.6% of Brisbane Airport. The group holds the operating franchise for John F. Kennedy International Airport's Terminal 4. Beside that, the airport group owns 35% of Hobart Airport. Shareholders The Schiphol Group is owned by the Dutch