Commerzbank supervisory board chairman Vetter resigns

Hans-Jörg Vetter was a driver behind the new strategy for the credit institute that is currently undergoing restructuring. But now the 68-year-old is surprisingly resigning his new post – for health reasons.

For health reasons: Hans-Jörg Vetter is stepping down as Chairman of the Commerzbank Supervisory Board with immediate effect.

Dhe chairman of the supervisory board of Commerzbank, Hans-Jörg Vetter, will be resigning on Tuesday completely unexpectedly for health reasons. Commerzbank announced this on Tuesday afternoon.

Companions who saw Vetter lively and, as always, smoking a pipe in his Frankfurt office last week, reacted in an interview with the FAZ in surprise and dismay. It is unlikely that the “independent mind” could have fallen out with someone.

The 68-year-old former chairman of the board of directors of the Landenbanken Berlin and Baden-Württemberg, Vetter, took over the chairmanship of the supervisory board of Commerzbank in August at the suggestion of the major shareholder, the federal government.

Vetter has signed long-time Allianz manager Manfred Knof from Deutsche Bank as the new CEO. Vetter also showed creative will and dedication: The former ING Germany boss Roland Boekhout left Commerzbank after less than a year because his strategic ideas as a corporate client board were not compatible with those of Vetter.

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To the detailed view

Vetter only bought Commerzbank shares for EUR 200,000 for his own account in February – an indication that he believes in the success of the restructuring initiated by Knof. Now, after a very short time, Vetter has to give up his position, which he clearly enjoyed. Until a successor is elected, Vetter’s deputy Uwe Tschäge, chairman of the general works council, will lead the supervisory board, according to Commerzbank.