Before important meeting: unrest in the Supervisory Board of Commerzbank

Before the meeting of the Supervisory Board of Commerzbank, on Monday, wild speculation into the herb shoot. Some media reports, workers ' representatives in the Supervisory Board disagreed with Hans-Jörg Vetter, the the Federal government as the largest shareholder, Reportedly as the new Chairman of the Supervisory Board intends to propose. Two members of the Supervisory Board of the workers ' wing said, however, on the weekend, independently of each other in confidential interviews to the F. A. Z. that they had not yet formed a final opinion on cousin. The former Chairman of the Executive Board of Landesbank Berlin and Landesbank Baden-Württemberg will be present on Monday morning, the representatives of the employees in the Commerzbank Supervisory Board only once. Then, you will establish a joint employee-line for the decisive meetings in the afternoon. Both boards seem not to riot brushed, but is open-in a constructive way.

criticism of cousin is scattered, therefore, quite possibly behind-the-Scenes of disappointed candidates who didn't come to; and by the second largest, Commerzbank-shareholder Cerberus, the calls for two representatives on the Supervisory Board. The financial investor was triggered by two public letters with harsh criticism of the Board of Directors, the leadership crisis, the Commerzbank. Now a shareholder, Cerberus, since July of 2017, 5 percent of Commerzbank, include shares and has lost since then, around 450 million euros, the mood against cousin.

in the opinion of Cerberus, Vetter has not be pressed, as he released in the 2000s, the former Bankgesellschaft Berlin of failed real Estate loans and, from 2009 to 2016, the LBBW of the imbalance in the financial crisis, the cost being radical enough. In fact, Vetter built in the LBBW 2500 and almost a quarter of the workforce from. Cerberus complains to cousin that he gained as a CEO of a public-law country banks have no experience with shareholders on the capital market, such as Cerberus alone on return. In addition, the Commerzbank would have to adjust, says Cerberus, your business model so that you can survive in the digital world. Here doubt the sound of that cousin that is in a few weeks and 68 years old and for the past four years, from the operational banking business is outside, it is the Right thing to do.

Updated Date: 02 August 2020, 09:19