BERLIN (dpa-AFX) - German lending major Commerzbank AG (CRZBY.PK) said it appointed Bettina Orlopp (54) as the chief executive officer and successor to Manfred Knof (59). Additionally, Michael Kotzbauer (56), Member of the Board of Managing Directors responsible for Corporate Clients, has been appointed as Deputy chief executive officer. Both will receive a contract for 5 years, when entering their new positions. The Supervisory Board aims for a transition in the near future.
Knof had informed the Chairman of the Supervisory Board Jens Weidmann of his decision not to seek a second term as chief executive officer at the beginning of September.
Regarding the succession of the Chief financial officer role the Supervisory Board has started a structured search. In the transitional period after hand-over, Bettina Orlopp will take both functions in a dual role, Commerzbank said.
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