Press Release Press Release


November 06, 2007

Senior management changes at Commerzbank:
- Martin Blessing to succeed Klaus-Peter Müller
- Müller runs for the Supervisory Board

Chairman of the Supervisory Board Martin Kohlhaussen (72) today confirmed to the Supervisory Board of Commerzbank that in accordance with the Articles of Association he will not be standing for re-election at the Annual General Meeting on May 15, 2008. The Supervisory Board has also complied with the request of Klaus-Peter Müller (63) to release him from his role as member and Chairman of the Board of Managing Directors at the next AGM. At the same time the Board invited Müller to stand for election to the Supervisory Board.

Martin Kohlhaussen thanked Müller for his achievements at the bank's most senior level: "Under difficult external circumstances and within a very short time, Klaus-Peter Müller transformed Commerzbank into a successful, internationally respected institution and propelled it to second place in the German banking industry through the acquisition of Eurohypo. For this magnificent achievement the Supervisory Board owes him an enormous debt of gratitude."

With effect from mid-May, Müller's successor as Chairman of the Board of Managing Directors will be Martin Blessing (44), who is currently responsible for the Mittelstandsbank segment. Müller commented on his chosen successor: "Martin Blessing has made a significant contribution to the reorientation of Commerzbank over the last few years, and as such he represents strategic continuity. First he affected a turnaround in the retail banking business and then he led the Mittelstandbank to a level of remarkable performance. His wide-ranging experience in consultancy and operational banking makes him the perfect choice to lead Commerzbank on a sustained growth course."

Frank Annuscheit and Markus Beumer appointed to the Board of Managing Directors

Also at today's meeting, the Supervisory Board has appointed Frank Annuscheit and Markus Beumer as new Members of the Board of Managing Directors with effect from January 1, 2008. As Group Chief Operating Officer Frank Annuscheit (45) is currently responsible for Commerzbank's global IT activities. His appointment signals the bank's recognition of the fast-growing importance of organisation and information technology. Markus Beumer (43) has been Group Manager for Corporate Banking since April 2006 and will take on responsibility for SME corporate banking on the Board chaired by Martin Blessing. He was previously Head of Corporate Banking at the regional Frankfurt office.

"By appointing these new, home-grown members to the Board of Managing Directors we are responding to the growing scope and increasing complexity of the banking business. Both are well-acquainted with the bank and represent an enormous asset to the Board of Managing Directors with their expert knowledge," says Klaus-Peter Müller.


After training at Dresdner Bank, Martin Blessing studied business management in Frankfurt and St. Gallen. He began his professional career as a consultant at McKinsey, where he became a partner in 1994. Three years later, he left McKinsey to rejoin Dresdner Bank as co-head of the retail banking division. In 2000 Blessing became Chairman of the Board at Advance Bank before being appointed to the Board of Managing Directors of Commerzbank on November 1, 2001. His first responsibility was the retail banking division. Following the successful restructuring of this division, he took on responsibility for the Mittelstandbank in November 2004. Until now he has also held responsibility for Information Technology and Transaction Banking on the Board of Managing Directors.

Martin Blessing sits on the Supervisory Boards of AMB Generali, Heidelberger Druckmaschinen and ThyssenKrupp Services.

The father of three daughters, he likes to keep fit by jogging and skiing. Recently he successfully completed the Frankfurt Marathon.