REG-Commerzbank Aktiengesellschaft Supervisory Board appoints Carsten Schmitt as new CFO

COMMERZBANK AGAnnouncement

21/11/2024 09:15

============

   Commerzbank Aktiengesellschaft (CZB)
   Supervisory Board appoints Carsten Schmitt as new CFO

   21-Nov-2024 / 10:04 CET/CEST
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   In today’s meeting, the Supervisory Board of Commerzbank, has appointed
   Carsten Schmitt as Chief Financial Officer (CFO) to the Board of Managing
   Directors. He is going to succeed Bettina Orlopp in this function, who has
   been Commerzbank’s CFO since March 2020 and has additionally held this
   position with her role as CEO since 1 October. The handover is planned to
   be completed by spring 2025 at the latest. The appointment to the Board of
   Managing Directors is subject to regulatory approvals.

   Carsten Schmitt joins from Danske Bank, where he has been Executive Vice
   President of Group Strategy and M&A, reporting directly to the CFO since
   2021. Previously, he worked for Commerzbank in various positions for more
   than 20 years, most recently heading the Group Finance segment as a
   Divisional Board Member from 2019 to 2021.

   The Chairman of the Supervisory Board of Commerzbank, Jens Weidmann, said:
   “We are very pleased to have won over Carsten Schmitt for this
   mission-critical role. He is an accomplished leader with decades of
   experience in the financial industry and a deep familiarity with
   Commerzbank. As the future CFO, Mr. Schmitt will focus on actively
   contributing to the strategic development of the bank and on achieving our
   increasingly ambitious financial goals in coming years. Moreover, he will
   further strengthen the dialogue with capital market participants. On
   behalf of the Supervisory Board, I want to express our heartful thanks to
   Bettina Orlopp for her outstanding performance as CFO over the past years,
   and for her willingness to fulfill this role alongside her CEO duties
   during the transition period until Mr. Schmitt takes over.”

   CEO Bettina Orlopp said: “I am very much looking forward to working with
   Carsten again. He will enrich the Management Board with his extensive
   financial expertise and strategic foresight as well as help to unleash the
   great potential we see for Commerzbank.”

    

   Press contact
   Philipp Encz  +49 69 9353 26851
   Silvana Herold  +49 69 9353 45680

   Investors’ contact
   Michael Klein  +49 69 9353 47703
   Ute Sandner  +49 69 9353 47708

    

   About Commerzbank
   Commerzbank is the leading bank for the German Mittelstand and a strong
   partner for around 25,500 corporate client groups. In addition, it
   supports private and small-business customers in Germany with more than
   €400 billion assets under management. 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% of Germany’s foreign trade and is present
   internationally in more than 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 a business relationship to Germany,
   Austria, or Switzerland 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
   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, amongst others, 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.

    

   ══════════════════════════════════════════════════════════════════════════

   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          DE000CBK1001
   Category Code: MSCU
   TIDM:          CZB
   LEI Code:      851WYGNLUQLFZBSYGB56
   Sequence No.:  360644
   EQS News ID:   2035747


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    1 fncls.ssp?fn=show_t_gif&application_id=2035747&application_name=news&site_id=refinitiv~~~456f380e-074c-434c-ab61-d8ca972fa0de

References

   Visible links


============