Reported 29 days ago
Commerzbank's CEO Manfred Knof has announced he will not extend his contract, prompting the bank to seek a replacement as the German government begins to reduce its stake from 16.5% to 12%. Knof, who led the bank to significant profits and stock growth, informed the board that he won't remain past next year. The transition for leadership comes during a critical financial restructuring for the bank, known for its focus on digitalization and serving large corporations.
Source: YAHOO