REG-Commerzbank Aktiengesellschaft Commerzbank Supervisory Board intends to appoint Jens Weidmann as new Chairman

COMMERZBANK AGAnnouncement

15/02/2023 15:15

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   Commerzbank Aktiengesellschaft (CZB)
   Commerzbank Supervisory Board intends to appoint Jens Weidmann as new
   Chairman

   15-Feb-2023 / 16:07 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Today, the Supervisory Board of Commerzbank has declared unanimously that
   it intends to appoint Dr Jens Weidmann as its Chairman if Weidmann is
   elected to the Supervisory Board by the shareholders at the Annual General
   Meeting on 31 May 2023 as planned. The Chairman of the Supervisory Board,
   Helmut Gottschalk, who proposed Weidmann as his successor last November,
   explained: “I am pleased that my proposal has been met with broad approval
   by both the shareholders and the employees on the Supervisory Board. It
   was important to me to find a widely respected personality for my
   succession, and Jens Weidmann stands for stability and independence. With
   his appointment, Commerzbank will continue on its successful course of
   self-determined development, which was achieved during my tenure.”

    

   The Federal Government has exercised its contractual right of designating
   two representatives of the federal government for the Supervisory Board,
   Dr Jutta Dönges and Harald Christ. The Supervisory Board has complied with
   this and nominated Dönges, who has been a member of the committee since
   2020, and Christ, who is running for the first time, for the election.

     

   Press contact

   Silvana Herold +49 69 136-46646

    

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   About Commerzbank

   Commerzbank is the leading bank for the German Mittelstand and a strong
   partner for around 26,000 corporate client groups and around 11 million
   private and small-business customers in Germany. The Bank’s two Business
   Segments – Private and Small-Business Customers and Corporate Clients –
   offer a comprehensive portfolio of financial services. Commerzbank
   transacts approximately 30 per cent of Germany’s foreign trade and is
   present internationally in almost 40 countries in the corporate clients’
   business. The Bank focusses on the German Mittelstand, large corporates,
   and institutional clients. As part of its international business,
   Commerzbank supports clients with German connectivity and companies
   operating in selected future-oriented industries. In the Private and
   Small-Business Customers segment, the Bank is at the side of its customers
   with its brands Commerzbank and comdirect: online and mobile, in the
   advisory centre, and personally in its branches. Its Polish subsidiary
   mBank S.A. is an innovative digital bank that serves approximately
   5.7 million private and corporate customers, predominantly in Poland, as
   well as in the Czech Republic and Slovakia.

    

   Disclaimer and Forward-Looking Statement

   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,
   the reliability of its risk management policies, procedures and methods,
   risks arising as a result of regulatory change and other risks.
   Forward-looking statements therefore speak 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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   ISIN:          DE000CBK1001
   Category Code: MSCU
   TIDM:          CZB
   LEI Code:      851WYGNLUQLFZBSYGB56
   Sequence No.:  223494
   EQS News ID:   1560873


    
   End of Announcement EQS News Service

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