DGAP-News

Commerzbank Supervisory Board ensures continuity and stability on Board of Managing Directors

DGAP-News: Commerzbank Aktiengesellschaft / Key word(s): Miscellaneous Commerzbank Supervisory Board ensures continuity and stability on Board of Managing Directors 16.06.2021 / 18:12 The issuer is solely responsible for the content of this announcement. - Bettina Orlopp appointed Deputy Chair of Board of Managing Directors and Board appointment extended ahead of terms

- Board of Managing Directors appointment of Jörg Hessenmüller also extended

- Sabine Schmittroth to focus perspectively on Human Resources department, reflecting importance of HR in ongoing restructuring; Private and Small-Business Customers segment to be reassigned

At its meeting today, the Supervisory Board of Commerzbank made important decisions to further strengthen the Bank's Board of Managing Directors and ensure long-term continuity and stability on the Board for the profound transformation launched with "Strategy 2024".

Bettina Orlopp will become Deputy Chairwoman of the Board with effect from 17 June 2021. In this context, the Supervisory Board extended her appointment to the Board of Managing Directors by five years until June 2026 ahead of terms. This underscores the significant importance of Commerzbank's consistent orientation toward the goal of regaining sustained profitability. The Board appointment of Chief Operating Officer Jörg Hessenmüller was also extended for a further five years until the end of 2026. His responsibilities include key enablers for the transformation, above all the ongoing process of digitalisation at Commerzbank.

In addition, Sabine Schmittroth will focus perspectively on her role as Labour Director. The human resources challenges presented by the restructuring already underway at Commerzbank make the Human Resources department more important than ever. Sabine Schmittroth will pass on responsibility for the Private and Small-Business Customers segment, which she additionally assumed in autumn 2020. A process to fill this position on the Board of Managing Directors, which is important to the Bank's ongoing success, has been initiated.