The Presiding and Nomination Committee of the Supervisory Board of Commerzbank has discussed in its meeting today the offer of Martin Zielke to resign early as a Board Member of Commerzbank AG on the basis of a mutual termination of his Board membership and, if in the view of the Supervisory Board, such resignation is in the interest of Commerzbank. The Presiding and Nomination Committee has decided to recommend to the Supervisory Board of Commerzbank to mutually terminate the appointment of Martin Zielke as Board Member and Chairman of the Board of Managing Directors of Commerzbank at a point in time to be agreed between Martin Zielke and the Supervisory Board but the latest by 31 December 2020. The Supervisory Board will decide on this in its meeting on 8th July 2020.
Stefan Schmittmann has announced to resign from office at today's Presiding and Nomination Committee meeting with effect from the 3rd of August 2020.
Disclaimer and Forward-Looking Statement
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.
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