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August 09, 2011

Change on the Board of Managing Directors of Commerzbank

With great regret the Supervisory Board of Commerzbank today met with the wish of Eric Strutz not to extend his mandate as Chief Financial Officer, which expires at the end of March 2012. "Eric Strutz is doing a great job,” said Martin Blessing, Chairman of the Board of Managing Directors of Commerzbank. "I have a great working relationship with him, and it is a pity that he is leaving us.”

"With considerable experience Eric Strutz has guided the finances of the bank through extremely difficult times, and it is not only this that has gained him an outstanding reputation. As a consequence, the Supervisory Board regrets his decision all the more. At the same time we can understand his desire to begin a new chapter in his personal plans for the future following the successful conclusion of the capital measure. I would like to thank Eric Strutz on behalf of all the members of the Supervisory Board for his outstanding work, and wish him every success and all the very best for the future," said Klaus-Peter Müller, the Chairman of the Supervisory Board of Commerzbank.

Eric Strutz, 46, has been working in key functions for Commerzbank for over a decade now, initially as Executive Vice President, Strategy and Controlling, thereafter as CFO. He has been a member of the Board of Managing Directors of Commerzbank since April 2004. Eric Strutz will continue to be in charge of his areas of responsibility until his contract expires.

Press contact:
Armin Guhl +49 69 13 642 764
Reiner Rossmann +49 69 13 646 646


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About Commerzbank

Commerzbank is a leading bank for private and corporate customers in Germany. With the segments Private Clients, Mittelstandsbank, Corporates & Markets, Central & Eastern Europe as well as Asset Based Finance, the Bank offers its customers an attractive product portfolio, and is a strong partner for the export-oriented SME sector in Germany and worldwide. With a future total of some 1,200 branches, Commerzbank has one of the densest networks of branches among German private banks. It has above 60 sites in more than 50 countries and serves more than 14 million private clients as well as one million business and corporate clients worldwide. In 2010 it posted gross revenues of EUR 12.7 billion with some 59,000 employees.

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Disclaimer

This release contains statements concerning the expected future business of Commerzbank, efficiency gains and expected synergies, expected growth prospects and other opportunities for an increase in value of the company as well as expected future net income per share, restructuring costs and other financial developments and information. These forward-looking statements are based on management's current expectations, estimates and projections. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Commerzbank has no obligation to periodically update or release any revisions to the forward-looking statements contained in this release to reflect events or circumstances after the date of this release.

Contact

kontakt

pressestelle@ commerzbank.com

Phone:
+49(0)69-136-22830

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