Change in the supervisory board chair of Commerzbank initiated

Helmut Gottschalk informed the representatives of the shareholders on the presidential and nomination committee of his decision. They have very much regretted the decision because his work as chairman of the Supervisory Board is highly appreciated. In coordination with the Federal Ministry of Finance, he has also proposed Dr. Jens Weidmann as a new member of the Supervisory Board, who will also be available as chairman of the Supervisory Board, if he is elected. Shareholder representatives on the Presiding and Nomination Committee welcomed the proposal. It is planned to bring the matter to the attention of the competent bodies.

Helmut Gottschalk has been leading the supervisory board of Commerzbank since April 2021. In its 2024 strategy, the Bank has successfully implemented a comprehensive restructuring program in its current term of office, adapted its business model to changing business conditions and significantly improved its profitability in its core business. Under his leadership, he has also promoted the realignment of the Board of Management by appointing several new members of the Board of Management and established a new, performance-oriented remuneration system.

Regarding his decision to withdraw from the supervisory board chairmanship after the Annual General Meeting next May, at the end of his term of office, Helmut Gottschalk stated: "Commerzbank has made great progress over the past one and a half years with the realignment of its management team and the restoration of profitability in its core business and is now in a robust state again. It thus has good chances for shaping a sustainably successful future as an independent force in the German banking market. I am pleased that we are able to win the former President of Deutsche Bundesbank, Dr. Weidmann, a highly respected figure in the financial sector, for the nomination to the Supervisory Board for election, who, if elected, will also be available for the Chairman of the Supervisory Board."

Dr. Jens Weidmann (54) was President of the Deutsche Bundesbank from 2011 to 2021 and in this capacity also a member of the Governing Council of the ECB. Before that, he was head of the economic and fiscal department in the Federal Chancellery. In addition, from 2015 to 2021, he was Chairman of the Board of Directors of the Bank for International Settlements.