Commerzbank Aktiengesellschaft: Chairman of the Board of Management does not seek contract extension

Manfred Knof, CEO of Commerzbank AG, informed the Chairman of the Supervisory Board, Jens Weidmann, today that he will fulfil his contract, which runs until the end of December 2025, but will not be available to Commerzbank beyond that date.

The Chairman of the Supervisory Board, Jens Weidmann, noted this with great regret, but at the same time expressed his respect for this decision and his high appreciation for Manfred Knof’s successful work. The Supervisory Board of Commerzbank AG will immediately initiate an orderly search process for the successor to the Chairman of the Board of Management.

Disclaimer

This communication contains forward-looking statements. These are statements that do not describe past facts. These statements in this communication relate, among other things, to the expected future business development of Commerzbank, expected efficiency gains and synergies, expected growth prospects and other opportunities for increasing the value of Commerzbank, as well as the expected future financial results, restructuring expenses and other financial developments and information. These forward-looking statements are based on current plans, expectations, estimates and forecasts of the Board of Management. They depend on 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 those expressed or implied in these forward-looking statements. Such factors include the state of the financial markets in Germany, Europe, the USA and other regions in which Commerzbank generates a significant portion of its income and holds a significant portion of its assets, the price development of assets and the development of market volatility, in particular due to the ongoing European debt crisis, the possible default of borrowers or counterparties to trading transactions, the implementation of its strategic initiatives to improve its business model, the reliability of its risk management policies, procedures and methods, risks due to regulatory changes and other risks. Forward-looking statements therefore only apply on the day on which they are made. Commerzbank is not obliged to update or revise the forward-looking statements contained in this communication to reflect events or circumstances that occur after the date of this communication.

Contact:
Christoph Wortig
Head of Investor Relations
Commerzbank AG
Investor information
Phone: +49 69 9353 10080
Email:[email protected]

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