Today, Helmut Gottschalk has informed the shareholder representatives of the Presiding and Nomination Committee of the Supervisory Board of Commerzbank, that he decided not to be available for a new term as Chairman of the Supervisory Board after the next Annual General Meeting. He has furthermore proposed Dr. Weidmann as new member of the Supervisory Board, who will also be available as Chairman of the Supervisory Board if he is elected. The shareholder representatives of the Presiding and Nomination Committee have positively responded to the proposal and plan to recommend to the competent bodies of the bank to propose Dr. Weidmann for election to the Supervisory Board at the Annual General Meeting on May 31^st, 2023. It is also intended that he will subsequently be elected the successor of Helmut Gottschalk as Chairman.

The recommendation to elect Dr. Weidmann to the Supervisory Board is subject to the approval by the Presiding and Nomination Committee of the Supervisory Board and then the Supervisory Board plenary. 

Disclaimer

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. In this release, these statements concern inter alia the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of Commerzbank as well as expected future financial results, restructuring costs and other financial developments and information. These forward-looking statements are based on the management’s current plans, expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Such factors include the conditions in the financial markets in Germany, in Europe, in the USA and other regions from which Commerzbank derives a substantial portion of its revenues and in which Commerzbank holds a substantial portion of its assets, the development of asset prices and market volatility, especially due to the ongoing European debt crisis, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives to improve its business model, the reliability of its risk management policies, procedures and methods, risks arising as a result of regulatory change and other risks. Forward-looking statements therefore speak only as of the date they are made. Commerzbank has no obligation to update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.