Friday, March 4, 2016

Commerzbank Private Customers board Zielke triggers Blessing from – SPIEGEL ONLINE

The search for a successor to Commerzbank CEO Martin Blessing is completed. The Nomination Committee has determined to SPIEGEL information on the current private clients Board Martin Zielke. In an early two days meeting on Sunday Zielke to be selected – if not yet significantly penetrated the critics

For a long time it had seemed that Germany’s Second Largest Money house -. On the request of the federal government as a major shareholder – the new head of exterior obsolete. But the talks with potential candidates ran tough, as reported from the Group.

It is also however been difficult external candidates to win the top job because still is open, who succeeds Klaus-Peter Müller as Supervisory Board Chairman. Müller’s mandate ends in 2018, but an earlier separation is deemed feasible, a selection committee is looking for some time for a successor.

In addition Zielke was repeatedly traded Markus Beumer as heir apparent, who is responsible management for the SME business.

Blessing, who has in the financial crisis beleaguered Commerzbank conducted eight years , will not renew his contract. The handover could already take place at the AGM on 20 April.

Time is short: Commerzbank  chart show  must urgently develop a strategy, under which it will go in the coming years. The Institute has its refurbishment close to completion, has returned to profitability and pay a dividend. But there are many challenges continue: In addition to the persistently low interest rates, which slow down the business, including also the issue of the final state exit.

supervisory board chairman Klaus-Peter Müller had to search for a Blessing successor late last year triggered – and pushed for an internal solution: “We have our own strong candidate in the selection process on their qualifications, background and creative power to external candidates will be measured. . ”

Some critics even within the bank complained, the process is far from ideal run and have a lot of damage, especially the internal people. Already there is speculation about a possible departure Beumers, Zielke should actually be elected on Sunday.


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