Commerzbank Lays Foundation for Leadership Transition

Commerzbank AG's Supervisory Board has appointed Bettina Orlopp as the new CEO, succeeding Manfred Knof. The transition is planned for the near future. Manfred Knof decided not to seek a second term. The search committee recommended Orlopp after an internal and external candidate search. Additionally, Michael Kotzbauer has been appointed as the new Deputy CEO. Both will serve five-year terms in their positions.

Jens Weidmann, Chairman of the Supervisory Board, expressed confidence in Orlopp and Kotzbauer's leadership. Orlopp, currently the CFO, will temporarily handle both roles during the transition. Knof, who became CEO in January 2021, will leave behind a legacy of strategic growth.

Bettina Orlopp, a member of the Executive Board since 2017, has committed to navigating future challenges with a focus on value creation for shareholders, customers, and employees. Michael Kotzbauer, who joined Commerzbank in 1990, has been responsible for the Corporate Clients segment.