Commerzbank is Contra: No Board positions for Cerberus

The Commerzbank has rejected the claim of the American major shareholder, Cerberus, according to two Seats on the Supervisory Board. There is no free Items, it

Commerzbank is Contra: No Board positions for Cerberus

The Commerzbank has rejected the claim of the American major shareholder, Cerberus, according to two Seats on the Supervisory Board. There is no free Items, it said in a letter to the Chairman of the Supervisory Board Stefan Schmittmann, the Reuters news Agency on Friday that was about it. First of all, the Handelsblatt had reported of the Letter.

"Until Further notice, we see neither a need nor a Basis to change the composition of the Supervisory Board", hot it accordingly, in a letter from chief inspector Stefan Schmittmann from Friday. There is in the Supervisory Board currently has no vacancies, all members are qualified and up to 2023 chosen.

Cerberus holds five percent of Commerzbank. In a Tuesday letter mailed to the financial investor had criticized the course of the Institute, sharp, and two seats on the Supervisory Board is required. Schmittmann had to continue running, Commerzbank will take the feedback from Cerberus and other investors seriously, it said in the report. "We expect that you will see in the template of the customized strategy that many of its proposals are taken into account and concerns were addressed." Commerzbank intends to present its revised strategy in August.

COMMERZBANK AG -- -- (--) Xetra tradegate London SE Int. Level 1Lang & Schwarz, Stuttgart, Frankfurt, Switzerland, Switzerland OTCWien 1T 1W 3M 1J> 3J 5J For detail view

Updated Date: 12 June 2020, 20:19

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