06.03.2016
Commerzbank Aktiengesellschaft DE000CBK1001
DGAP-News: Commerzbank: Martin Zielke new Chairman of the Board of Managing Directors
DGAP-News: Commerzbank Aktiengesellschaft / Key word(s): Change of Personnel
Commerzbank: Martin Zielke new Chairman of the Board of Managing Directors
06.03.2016 / 14:30
The issuer is solely responsible for the content of this announcement.
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- Martin Zielke to succeed Martin Blessing as Chairman of the Board of
Managing Directors on 1 May 2016
- Michael Mandel to succeed Mr Zielke as member of the Board of Managing
Directors responsible for the Private Customers business segment
- Bettina Orlopp to be appointed to the Board of Managing Directors, to
assume responsibility for a new Board portfolio comprising Compliance,
Human Resources and Legal
In its meeting today, the Supervisory Board of Commerzbank resolved that
Martin Zielke (53) will succeed Martin Blessing as Chairman of the Board of
Managing Directors. It was amicably and mutually agreed, that Martin
Blessing's term of office will end on 30 April 2016.
Moreover, the Supervisory Board resolved to appoint Michael Mandel and Dr
Bettina Orlopp as members of the Bank's Board of Managing Directors. These
decisions are still subject to regulatory approval.
Michael Mandel (49), currently Divisional Board member responsible for
Private Customers, is expected to succeed Mr Zielke as the member of the
Board of Managing Directors with responsibility for the Bank's Private
Customers business. Michael Mandel contributed significantly to the
successful turnaround of the Bank's Private Customers business over the
last few years.
Bettina Orlopp (45), currently Divisional Board member for Group
Development & Strategy, will be responsible, as a member of the Board of
Managing Directors, for the new Board portfolio Compliance, Human Resources
and Legal. The present assignment of responsibilities among the members of
the Board of Managing Directors for these functions is as follows:
Compliance (Stephan Engels), Human Resources (Frank Annuscheit), Legal
(Martin Blessing, and Martin Zielke from 1 May 2016 onwards). With the new
distribution of responsibilities amongst the members of the Board of
Managing Directors the Bank responds to the significant demands placed upon
Frank Annuscheit, Chief Operating Officer and Labour Director, as a result
of digitalisation, together with the steady increase in the time required
to deal with Compliance and Legal issues. The appointment also further
underlines the importance of a strong compliance culture.
Ms Orlopp will fulfil her new duties in the capacity of Senior General
Manager until her appointment to the Board of Managing Directors becomes
effective. Until then, the distribution of responsibilities amongst the
members of the Board of Managing Directors will remain unchanged.
Successors to Michael Mandel and Bettina Orlopp in their current functions
will be appointed by the Board of Management Directors in due course.
Klaus-Peter Müller, Chairman of the Supervisory Board, said: "I am
delighted that Martin Zielke has been appointed as the new Chairman of
Commerzbank's Board of Managing Directors. Following an intensive selection
process, he was the right candidate, and he enjoys the trust of the entire
Supervisory Board. Mr Zielke has a long and extensive experience in the
private and corporate customer businesses, and in the finance function. He
managed the turnaround of the Bank's Private Customers business in an
impressive manner. I am firmly convinced that he, together with his team on
the Board of Managing Directors, will continue to lead the Bank on the path
towards success with sustainability. Furthermore, the Board of Managing
Directors will be further strengthened with the appointments of Michael
Mandel and Bettina Orlopp."
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Having completed a banking apprenticeship at Deutsche Bank, Martin Zielke
studied business administration at Göttingen University. He started his
professional career with Dresdner Bank in 1990, including a sales
management position in Hamburg. He joined Deutsche Bank 24 in 2000, as
regional head of portfolio investment, before moving to Deutsche Hyp, as
regional head of financing Retail banking. In 2002, Mr Zielke was appointed
Group Manager, Retail Banking, at Commerzbank, where he successfully
restructured the Bank's retail banking franchise. Three years later, he
moved to the Mittelstandsbank, as Group Manager, Corporate Banking. In
April 2006, he was appointed CFO of Eurohypo; he returned to Commerzbank in
2008, as Divisional Board Member for Group Finance. Mr Zielke has been a
member of Commerzbank's Board of Managing Directors since November 2010,
with responsibility for the Private Customers division. Under his
leadership, the Bank's private customer business has been successfully
restructured over recent years, and the process of change towards becoming
a digital multi-channel bank was implemented.
*****
Press contacts
Richard Lips +49 69 136-22461
Simon Steiner +49 69 136-46646
Margarita Thiel +49 69 136-85483
*****
About Commerzbank
Commerzbank is a leading international commercial bank with branches and
offices in more than 50 countries. The core markets of Commerzbank are
Germany and Poland. With the business areas Private Customers,
Mittelstandsbank, Corporates & Markets, and Central & Eastern Europe, its
private customers and corporate clients, as well as institutional
investors, profit from a comprehensive portfolio of banking and capital
market services. Commerzbank finances more than 30 per cent of Germany's
foreign trade and is the unchallenged leader in financing for SMEs. With
its subsidiaries Comdirect and Poland's M Bank, it owns two of the world's
most innovative online banks. With approximately 1,050 branches and more
than 90 advisory centres for business customers, Commerzbank has one of the
densest branch networks among German private banks. In total, Commerzbank
boasts more than 16 million private customers, as well as 1 million
business and corporate clients. The Bank, which was founded in 1870, is
represented at all the world's major stock exchanges. In 2015, it generated
gross revenues of EUR9.8 billion with 51,300 employees.
*****
Disclaimer
This release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts. In this release,
these statements concern inter alia the expected future business of
Commerzbank, efficiency gains and expected synergies, expected growth
prospects and other opportunities for an increase in value of Commerzbank
as well as expected future financial results, restructuring costs and other
financial developments and information. These forward-looking statements
are based on the management's current plans, expectations, estimates and
projections. They are subject to a number of assumptions and involve known
and unknown risks, uncertainties and other factors that may cause actual
results and developments to differ materially from any future results and
developments expressed or implied by such forward-looking statements. Such
factors include the conditions in the financial markets in Germany, in
Europe, in the USA and other regions from which Commerzbank derives a
substantial portion of its revenues and in which Commerzbank holds a
substantial portion of its assets, the development of asset prices and
market volatility, especially due to the ongoing European debt crisis,
potential defaults of borrowers or trading counterparties, the
implementation of its strategic initiatives to improve its business model,
particularly to reduce its NCA portfolio, the reliability of its risk
management policies, procedures and methods, risks arising as a result of
regulatory change and other risks. Forward-looking statements are therefore
valid only as of the date they are made. Commerzbank has no obligation to
update or release any revisions to the forward-looking statements contained
in this release to reflect events or circumstances after the date of this
release.
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06.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Commerzbank Aktiengesellschaft
Kaiserstraße 16
60311 Frankfurt am Main
Germany
Phone: +49 (069) 136 20
Fax: -
E-mail: [email protected]
Internet: www.commerzbank.de
ISIN: DE000CBK1001
WKN: CBK100
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Hanover, Munich, Stuttgart;
Terminbörse EUREX; London, SIX
End of News DGAP News Service
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