EQS-News

Jens Weidmann new Chairman of Commerzbank’s Supervisory Board - Seite 2

In his speech at the AGM, CEO Manfred Knof expressed his thanks to Helmut Gottschalk on behalf of the entire Board of Managing Directors: “You have had an important impact to Commerzbank’s way back to success. Commerzbank has benefited from your contribution. We wish you only the best for the future.” Regarding the development of Commerzbank, Knof said: “In the 2022 financial year, we delivered what we promised. The business model is again so strong that we achieved the best net result in more than a decade despite high extraordinary burdens. This gives us scope to distribute capital again. We will not rest on what we have achieved, though. We are working on the further development of our strategy for the period after 2024. The aim is to earn our capital costs in the medium term.”

With a majority of 99.99%, the AGM approved the dividend proposal of 20 cents per share for the 2022 financial year. In addition, Commerzbank plans a share buyback of €122 million in the near future, which has been already approved by the supervisory authority. Commerzbank last paid a dividend four years ago.

The shareholders voted as follows on the further key items on the agenda:

Ratification of actions (items 3 and 4)

The AGM ratified the Board of Managing Directors’ actions as well as the Supervisory Board’s actions with an average majority of 95.9% and more than 96.4% respectively.

Approval of remuneration report (item 6)

The AGM approved the remuneration report for the last financial year with a majority of 85.81%.

Election of new Supervisory Board members (item 7)

In the regular election of the Supervisory Board members, the AGM followed the proposals of the administration and elected the following shareholders’ representatives by a large majority to the committee:

• Harald Christ (managing shareholder of Christ & Company Consulting GmbH)
• Dr Frank Czichowski (former Senior Vice President/Treasurer KfW Banking Group)
• Sabine U. Dietrich (former member of the Board of Directors of BP Europe SE)
• Dr Jutta A. Dönges (Chief Financial Officer of Uniper SE)
• Burkhard Keese (Chief Operating and Financial Officer, Lloyd’s of London)
• Daniela Mattheus (Co-Managing Partner, European Center for Board Effectiveness GmbH)
• Caroline Seifert (management consultant for transformation)
• Dr Gertrude Tumpel-Gugerell (former member of the Executive Board of the European Central Bank, ECB)
• Dr Jens Weidmann (former President of Deutsche Bundesbank and former member of the Governing Council of the ECB)
• Frank Westhoff (former member of the Board of Managing Directors of DZ Bank AG)

In addition to Jens Weidmann, Harald Christ has also been newly elected to the Supervisory Board as a shareholder representative. Robin J. Stalker, like Helmut Gottschalk, did not run for election again and left the committee at the end of the AGM. The term of office of the members of the Supervisory Board is four years and ends with the AGM which resolves the ratification of actions for the 2026 financial year.