Commerzbank names Bettina Orlopp as new CEO, succeeding Manfred Knof

The Supervisory Board of Commerzbank AG has redefined the responsibilities at the Group’s top management and appointed Bettina Orlopp as the CEO and successor to Manfred Knof. 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 CEO at the beginning of September. Additionally, Michael Kotzbauer, Member of the Board of Managing Directors responsible for Corporate Clients, has been appointed as Deputy CEO. Both will receive a contract for 5 years, when entering their new positions. Regarding the succession of the CFO 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. Jens Weidmann, Chairman of the Supervisory Board, commented on the transition: “With Bettina Orlopp, we have found an ideal successor to lead Commerzbank.”