The 71-year-old chairman of the Commerzbank supervisory board, Helmut Gottschalk, no longer wants to run for office in 2023.
The economist Jens Weidmann, the former president of the Deutsche Bundesbank, is to become the new head of the Commerzbank supervisory board.
(esb./Bloomberg) The former president of the Deutsche Bundesbank, Jens Weidmann, is to become the new chairman of the supervisory board of Commerzbank. The bank announced this late Saturday afternoon in Frankfurt. The incumbent chairman of the supervisory board, Helmut Gottschalk, informed the shareholder representatives in the presidential and nomination committee that he would no longer be available as chairman of the supervisory board after the next general meeting.
At the same time, he proposed the economist and former Bundesbank President Jens Weidmann as his successor. The term of office of 71-year-old Helmut Gottschalk expires at the company’s annual general meeting in May 2023. Now the annual general meeting of the bank on 31.5. Decide on Weidmann’s candidacy in 2023.
The 54-year-old respected economist Jens Weidmann was President of the Deutsche Bundesbank from 2011 to 2021 and sat ex officio on the Council of the European Central Bank, which sets interest rates. According to a report by the Bloomberg news agency, he was nicknamed “Dr. No» for his internal opposition to the extraordinary monetary policy measures deployed by the ECB to combat the eurozone sovereign debt crisis.
Commerzbank has been in a restructuring process since the beginning of 2021. The CEO Manfred Knopf wants to reduce the branch network to 400. Thousands of full-time jobs have already been cut.