ING announces change in Supervisory Board
ING announced that Mariana Gheorghe has decided not to be available for reappointment to the Supervisory Board at the next General Meeting of Shareholders, in 2023. Mariana Gheorghe was appointed a member of the Supervisory Board at the General Meeting in May 2015 and was reappointed for a second term of four years in 2019.
Mariana Gheorghe is a member of the Nomination and Corporate Governance Committee, the Remuneration Committee, Risk Committee and the ESG Committee and will continue in her roles until her current term ends at the General Meeting in 2023. The process of selecting and nominating a candidate for appointment to the Supervisory Board at the 2023 General Meeting is underway.
“We regret but understand Mariana’s decision. While we will properly thank her when she really leaves our Board next year, I already want to take the opportunity now to show our gratitude for her valuable contributions over the past seven years,” said Hans Wijers, chairman of the Supervisory Board of ING Group.
Supervisory Board appoints Sabine Mlnarsky as Chief Human Resources Officer of Commerzbank
At its meeting yesterday, the Supervisory Board of Commerzbank appointed Sabine Mlnarsky to the Board of Managing Directors of the Bank with effect from 1 January 2023. She will assume responsibility for the Group Human Resources division. As Chief Human Resources Officer and Labour Relations Director she is succeeding Sabine Schmittroth, who, in line with her personal life planning, is leaving Commerzbank when her contract expires at the end of 2022.
Sabine Mlnarsky has more than two decades of experience in the field of human resources and is joining Commerzbank from Austria’s Erste Group Bank AG. At the central institution of the Austrian savings bank sector, the 47-year-old lawyer has headed the human resources area since 2016. She thus returned to the company where she had embarked on her career in HR management in 2001, before she was responsible for human resources at the Lufthansa subsidiary Austrian Airlines in the years 2013 to 2016.
The Chairman of the Supervisory Board of Commerzbank, Helmut Gottschalk, said of her appointment to the Board of Managing Directors: “We are pleased that with Ms Mlnarsky we have acquired a manager who is both experienced and dynamic, someone who is not only highly familiar with our industry, but who has also demonstrated her extensive abilities in periods of transition. She will bring fresh impetus to the human resources work at Commerzbank while developing new prospects for working in the Bank and reinforce the sense of optimism in the company and enhance the image of Commerzbank as an employer. At the same time, the Supervisory Board would like to thank Ms Schmittroth for her services to the company in various functions over the course of nearly four decades and wishes her all the very best in the next phase of her life.”
At today’s meeting, Chief Risk Officer Marcus Chromik also informed the Supervisory Board that he intends to fulfil his management contract, which runs until the end of 2023, but, in line with his personal life planning, will not accept a possible offer of an extension to his contract. On this, the Chairman of the Supervisory Board Helmut Gottschalk said: “We respect the decision on the part of Mr Chromik, which he has been considering for a long time now. After then 14 years in the Bank and 8 years as a member of the Board of Managing Directors, he would like to start a new chapter in his professional life. The sense of mutual appreciation is great, and we look forward to the remaining collaboration. By informing the Supervisory Board at this early stage, we now have clarity and planning security for an orderly transition in this important function.”
Yngve Slyngstad nominated for election to Deutsche Bank’s Supervisory Board
The Supervisory Board of Deutsche Bank recommends that the bank’s shareholders elect Yngve Slyngstad (59) to the Supervisory Board at the Annual General Meeting (AGM) on May 19, 2022. Slyngstad would succeed Gerhard Eschelbeck, who will not stand for re-election when his five-year term ends at this year’s AGM.
Slyngstad was CEO of Norges Bank Investment Management (NBIM), the entity managing the world´s largest sovereign wealth fund in Norway, for 13 years. Prior to that he led the fund’s equity management organisation since its establishment in 1998. Earlier this month he joined Aker ASA, a Norwegian investment company, to oversee its newly created asset management division. The organization will be focused primarily on investments related to energy transition necessitated by climate change. Slyngstad holds degrees in economics, law, political sciences and philosophy from universities in Oslo and Paris, and the University of California.
“We very much look forward to Yngve Slyngstad joining the Supervisory Board,” said Mayree Clark, Chair of the Supervisory Board’s Nomination Committee. “We will benefit from his network in the global financial industry and his vast experience as one of the pioneers of sustainable investing, as well as his current focus on cutting edge matters related to climate change and energy transition.”
Paul Achleitner, Chairman of the Supervisory Board, added: “We are delighted to be able to nominate Yngve Slyngstad, in line with our longstanding approach to bring together highly capable individuals in a diverse Supervisory Board which brings expertise and judgement for the benefit of the bank.”
“I greatly appreciate the Supervisory Board’s nomination,” Slyngstad said. “Deutsche Bank plays a crucial role in the development of Europe’s financial industry and will play an important role in the financing of the transition to a sustainable and carbon-neutral economy. Subject to the vote at the AGM, I would be delighted to contribute to the further development of Deutsche Bank’s strategy.”
Achleitner thanked Gerhard Eschelbeck, Chief Information Security Officer at Aurora Innovation, Inc., who joined Deutsche Bank’s Supervisory Board in 2017: “Gerhard Eschelbeck has been a highly esteemed member of our Supervisory Board and made important contributions, in particular with his experience and expertise in technology. We thank him for his excellent work and wish him well in his new endeavours.”
Supervisory Board appoints Caroline Schlienkamp as a Member of the Board of Management of Talanx AG
Caroline Schlienkamp takes over the new division for Compliance, Legal, Data Protection, Procurement and Internal Services
From July, additional appointment as Director of Labour Relations with responsibility for the operational personnel function
Caroline Schlienkamp has been appointed as a Member of the Board of Management of Talanx AG with effect from 1 May 2022, subject to agreement by the Federal Financial Supervisory Authority (BaFin). She will head a newly created division for the areas Compliance, Legal, Data Protection, Procurement and Internal Services on the Board and from 1 July she will additionally be responsible for the operational personnel function as Director of Labour Relations.
The Board Division headed by Caroline Schlienkamp will for the first time combine the functions of Compliance, Legal, Data Protection, Procurement, Internal Services and later on Human Resources in a central function. The responsibility for Procurement and Internal Services is currently with Dr Edgar Puls alongside his responsibility for the Industrial Lines Division. The Board Member Dr Christopher Lohmann heading the Retail Germany Division is responsible for Data Protection. The CEO and Director of Labour Relations, Torsten Leue, is currently responsible for Legal and Compliance, and Human Resources.
“Creating this new division on the Talanx Board of Management takes account of the development that the functions bundled there are of key importance for international companies on a strong growth trajectory. The fact that we are able to appoint a candidate from within our Group to this position demonstrates the high quality of our development for potential high-flyers. At the same time, the appointment is an important milestone in our diversity strategy that we will be continuing to consistently drive forward over the coming years. Over the course of her career at the Talanx Group, Ms Schlienkamp has already shown herself to have outstanding leadership skills. I’m delighted that she is taking on this responsible position and I would like to take this opportunity to wish her every success in her new role,” commented Herbert K. Haas, Chairman of the Supervisory Board of Talanx AG.
Torsten Leue, Chairman of the Board of Management of Talanx AG, commented: “I’m looking forward to working together with Ms Schlienkamp on our Board of Management. She is exceptionally competent and she will enrich the work of the Board of Management with her good ideas and inspirational suggestions. This means she will play a leading role in shaping the development of the Talanx Group over the coming years. The successful further development of our corporate culture is in excellent hands with Ms Schlienkamp as the future Director of Labour Relations. She will continue to develop this strategic pathway.”
As part of its diversity strategy, the Talanx Group defined a target of appointing a woman as a Member of the Board of Management at the latest by 30 June 2022.
At the moment, Caroline Schlienkamp is heading the areas Internal Services and Procurement as a Board Member of HDI Service AG and the functions of Legal, Compliance and Data Protection at Talanx AG. In addition, she is Managing Director at Talanx Reinsurance Broker GmbH and Hannover Digital Investments GmbH and also a Member of the Management Board of Talanx Treuhand e.V. She has a long track record of wide-ranging experience in legal affairs and underwriting. As well as taking a degree in law, she also completed an apprenticeship as an insurance practitioner at Hannover Re and she worked in underwriting at HDI Global SE. At Talanx AG, she played a leading role in developing the Purpose of the Talanx Group “together we take care of the unexpected and foster entrepreneurship”.
Alongside her function on the Board of Management of Talanx AG, Caroline Schlienkamp will take over the function of Spokesperson of the Management Board of HDI AG from Jens Warkentin. This is the employee management company of the primary insurance group in Germany. Jens Warkentin will then take on additional key functions as Chief Financial Officer at HDI Deutschland AG in Retail Germany.
“I would like to express my very sincere thanks to Jens Warkentin for his outstanding work as Chief Human Resources Officer. He placed the Human Resources Department on an efficient and service-oriented footing and implemented digitalisation. Furthermore, he has significantly simplified the structures of the Talanx Group in Germany with our new employee management company HDI AG. I wish him every success for his further functions,” said Torsten Leue in his position as Chairman of the Supervisory Board of HDI AG.
Dr Christoph Wetzel joins DARAG Germany supervisory board
DARAG Group (“DARAG”), a leading legacy acquirer, announced that Dr Christoph Wetzel is to join the supervisory board of its German insurance carrier DARAG Deutschland AG.Dr Wetzel has worked across the German insurance market for more than 25 years and is currently CEO of fpb AG, a member of the ON Service Group. He previously spent more than six years with HDI Group where he was a board member of HDI Germany with responsibility for its property & casualty business, and CEO of Talanx Germany’s non-life retail business. Dr Wetzel also spent ten years in senior management roles encompassing operations, IT and human resources with Basler Versicherungen Germany.Alexander Roth, Chief Executive Officer of DARAG Europe, said: “Christoph has a stand-out reputation across the German insurance market and we are delighted that he has chosen to join our supervisory board. Alongside his notable consulting experience, his expertise and insight in all areas of insurance gained at senior management level enable him to offer clear and strategic advice, that will be of significant benefit to us and our clients across continental Europe.”Dr Wetzel commented: “The legacy market plays a critical role in supporting insurers to invest and manage their resources efficiently and DARAG Deutschland is particularly renowned for the high-quality legacy solutions it offers, combined with an ambitious outlook. I am looking forward to working with the supervisory board to enable its further success and growth.”
Chair of the Supervisory Board of Nationale-Nederlanden Bank Hein Blocks steps down, André Bergen appointed as successor
Nationale-Nederlanden Bank (NN Bank) announced that Hein Blocks has stepped down as Chair of the Supervisory Board of NN Bank as of 1 June 2021. André Bergen has been appointed as his successor.
Mr Bergen, currently an independent member of the Supervisory Board and Chair of the Audit & Risk Committee, has been appointed as the new Chair of NN Bank’s Supervisory Board as of 1 June 2021. Mr Bergen has extensive experience in the field of management and supervision in the banking sector, including as board member of Generale Bank, later Fortis Bank; CEO of KBC Group; member of the supervisory board of Delta Lloyd Group and Delta Lloyd Bankengroep and NIBC. André Bergen’s appointment as Chair has been approved by The Dutch Central Bank (DNB), the Dutch supervisory authority.
Nationale-Nederlanden expresses its gratitude and appreciation for Hein Blocks for his long-term commitment and his unwavering support as Chair of NN Bank’s Supervisory Board.
Anne Snel has been appointed Chair of the bank’s Audit & Risk Committee as of the same date. Ms Snel is already an independent member of the supervisory board of NN Bank and a member of the supervisory board of NatWest Markets. Ms Snel is currently partner at DIF Capital Partners and is responsible for risk management, compliance and legal activities. Previously she headed Integrated Risk at Rabobank and worked at DNB as senior supervisor and interim department head. Before this, she held a variety of roles at ABN-AMRO Bank over the course of her 16-year career there.
Thierry Cahn is appointed Chairman of the Groupe BPCE Supervisory Board
The Supervisory Board, which convened today following the Group’s Annual General Shareholders’ Meeting, appointed Thierry Cahn, who also serves as Chairman of the Board of Directors of Banque Populaire Alsace Lorraine Champagne, to replace Pierre Valentin as Chairman of the Groupe BPCE Supervisory Board. In addition, Eric Fougère, who is also Chairman of the Steering and Supervisory Board of the Caisse d’Epargne Bourgogne Franche-Comté, was elected Vice-Chairman of the Groupe BPCE Supervisory Board.
The Supervisory Board warmly thanked Pierre Valentin for his personal commitment and expressed their deep gratitude for his contribution to the Group and all its member companies during his term as Chairman of the Supervisory Board. The Groupe BPCE Management Board, whose term of office runs until May 2023, remains unchanged. The Groupe BPCE Supervisory Board is comprised of 19 members, each elected for a term of six years.
In addition to the Chairman Thierry Cahn, the 6 other members appointed by the Banques Populaires are:
The Chairs of the following Banque Populaire Boards of Directors
Catherine Mallet – Banque Populaire Occitane
Marie Pic-Pâris Allavena – Banque Populaire Rives de Paris
Gérard Bellemon – Banque Populaire Val de France
Bernard Dupouy – Banque Populaire Aquitaine Centre Atlantique
The Chief Executive Officers of the following Banques Populaires
Olivier Klein – BRED Banque Populaire
Yves Gevin – Banque Populaire Rives de Paris
In addition to the Vice-Chairman Eric Fougère, the six other members appointed by the Caisses d’Epargne are:
The Chairs of the following Caisse d’Epargne Steering and Supervisory Boards
Catherine Amin-Guard – Caisse d’Epargne Loire Drôme Ardèche
Françoise Lemalle – Caisse d’Epargne Côte d’Azur
Benoit Pellerin – Caisse d’Epargne Normandie
Alain Di Crescenzo – Caisse d’Epargne de Midi-Pyrénées
The Chairs of the following Caisse d’Epargne Management Boards
Alain Denizot – Caisse d’Epargne Rhône-Alpes
Didier Patault – Caisse d’Epargne Ile de France
The three independent members are:
Valérie Pancrazi, Chair of Vap Conseils
Anne-Claude Pont, Executive Chair, Wilov
Kadidja Sinz, Europe Director, Liberty Specialty Markets
The two employee representatives, appointed by the trade union organizations representing employees, are:
Bertrand Guyard, CFDT
Nicolas Getti, UNSA
The following persons also take part in Board meetings in their capacity as non-voting members:
André Joffre, President of the Fédération Nationale des Banques Populaires, Chair of the Banque Populaire du Sud Board of Directors
Dominique Goursolle, President of the Fédération Nationale des Caisses d’Epargne, Chair of the Steering and Supervisory Board of the Caisse d’Epargne Aquitaine Poitou Charente
Maurice Bourrigaud, Chief Executive Officer of Banque Populaire Grand Ouest
Joël Chassard, Chair of the Management Board of the Caisse d’Epargne Provence–Alpes Corse (CEPAC)
Bruno Deletré, Chair of the Management Board of the Caisse d’Epargne Grand Est Europe
Daniel Karyotis, Chief Executive Officer of Banque Populaire Auvergne Rhône Alpes
Pierre Valentin, former Chairman of the Groupe BPCE Supervisory Board, said: “It is with deep emotion that I step down today as Chairman of the Board, after having experienced at first hand some of the key moments in the life of our Group such as its far-reaching transformation and its ongoing development in this unprecedented period marked by the health crisis. I would like to take this opportunity to express my deep pride in having worked alongside you all in these historic times, and I wish Thierry Cahn every success as he takes over from me as Chairman of the Board.”
Thierry Cahn, Chairman of the Groupe BPCE Supervisory Board, said: “Along with all the other members of the Supervisory Board, I would like to take this opportunity to pay tribute to Pierre Valentin and wholeheartedly applaud his numerous achievements and his outstanding commitment to the general public interest in the unprecedented context of the health crisis. I am delighted to follow in his footsteps, and I sincerely hope to fulfill my mandate as Chairman of the Groupe BPCE Supervisory Board in a spirit of humility and goodwill. The Group, whose performance has been outstanding, has successfully risen to meet new challenges. It possesses all the flexibility it needs to adapt to a constantly changing economic and social environment. The Supervisory Board will carry out to the full the different tasks assigned to it, in harmony with all the Group’s senior management team. As it has always done since its creation, it will endeavor to ensure the smooth functioning of the company and of all its constituent parts, the pursuit of its strategy, the protection of its employees, the careful management of risks, and full compliance with our cooperative values. Our cooperative shareholders and our customers must remain the key focus of our actions. Let us be proud to belong to this fine enterprise, boasting deep and vibrant roots in society as a whole.”
Biographical profile of Thierry Cahn, Chairman of the Groupe BPCE Supervisory Board
Thierry Cahn (64) has served as a Banque Populaire Board Director since 1999, and became Chairman of the Banque Populaire du Haut-Rhin Board of Directors in 2000 before being appointed Chairman of the Banque Populaire d’Alsace Board of Directors in 2003 and Chairman of the Banque Populaire Alsace Lorraine Champagne Board of Directors in 2014. He also serves as a member of the Supervisory Board of BCP Luxembourg SA. Thierry Cahn is a lawyer at the Court of Appeal of Colmar and former Chairman of the Bar Association. He is also President of the Musée Unterlinden association in Colmar.
Thierry Cahn, who has been a member of the BPCE Supervisory Board since July 2009, served as Vice-Chairman of the BPCE Supervisory Board since May 2019.
Biographical profile of Eric Fougère, Vice-Chairman of the Groupe BPCE Supervisory Board
Éric Fougère graduated from the Senior Banking Management program at the Centre d’études supérieures bancaires in Paris. He was appointed Chief Financial Officer and member of the Management Board of Groupe Louis Latour in Beaune in 2006 before beginning his career in Le Crédit Lyonnais Group as Head of Corporate Banking for the Bourgogne Franche-Comté region. Since 2013, he has been actively involved in the governance of the Caisse d’Epargne Bourgogne Franche-Comté in his capacity as a Director of the Sud Côte d’Or Local Savings Company before being appointed Chairman of this entity in January 2015. He became a member of the Steering and Supervisory Board of the Caisse d’Epargne Bourgogne Franche-Comté in April of that year and subsequently became Chairman of the Risk Committee.
In December 2019, he was appointed to the Groupe BPCE Supervisory Board.
Commerzbank Annual General Meeting: New Supervisory Board members elected
Supervisory Board elects Helmut Gottschalk as Chairman
Gottschalk: “I want to make a contribution to returning this tradition-rich bank to success”
Actions of the Board of Managing Directors and the Supervisory Board ratified
At Tuesday’s virtual Annual General Meeting (AGM), Commerzbank shareholders elected Helmut Gottschalk, Burkhard Keese, Daniela Mattheus, Caroline Seifert, and Frank Westhoff by a large majority to the Bank’s Supervisory Board, as proposed. The duration of the appointments will run until the end of the 2023 AGM. At a Supervisory Board meeting immediately following the AGM, Helmut Gottschalk was re-elected as Chairman of the Board. He had previously been appointed as a member of the Supervisory Board by court order in April 2021 and had afterwards been elected as Chairman of the Supervisory Board by the members. This mandate ended at the close of today’s AGM.
“I will devote all my commitment, professional experience, and energy to Commerzbank. I want to make a contribution to bringing this tradition-rich bank back to success,” said Gottschalk. He succeeds Hans-Jörg Vetter, who resigned from his post on 16 March 2021 for health reasons. “On behalf of the entire Supervisory Board, I would like to express my sincere thanks for Mr. Vetter’s great commitment and the important impetus he has provided. We wish him all the best and much strength,” Gottschalk said during the AGM.
The further changes to the Bank’s 20-member Supervisory Board had become necessary after Andreas Schmitz resigned his mandate on 24 March 2021, and Tobias Guldimann, Rainer Hillebrand, and Victoria Ossadnik resigned their mandates at the end of the AGM.
“We are tackling the transformation of Commerzbank quickly and decisively. Our ‘Strategy 2024’ stands for customer orientation, digitalisation, sustainability, and profitability,” said Manfred Knof, Chairman of the Board of Managing Directors since the beginning of this year, in his speech to the shareholders. “We have clearly outlined the structures needed and we have taken the first steps. We will do everything we can to make Commerzbank efficient and sustainably profitable again. We want to become the digital advisory bank in Germany. I will not let up until we reach our goal, since the German economy, the German Mittelstand, and our retail customers need a strong, reliable, and independent Commerzbank.”
Due to the ongoing coronavirus pandemic, Commerzbank’s AGM was again held as a virtual event this year. Shareholders voted on the key items on the agenda as follows:
Ratification of actions (items 2 and 3)
The AGM ratified the Board of Managing Directors’ actions as well as the Supervisory Board’s actions with a majority of 99.4% and 86.9% respectively.
Election of the auditors (items 4 and 5)
Moreover, the AGM cleared the way for the planned change of the auditor. For the fiscal year 2021, EY was elected as auditor for the last time with 99.5%. For any interim financial statements in the period after 31 December 2021 until the AGM in 2022, the shareholders elected KPMG as the new auditor with 99.9%. It is planned that the AGM in 2022 will then also elect KPMG as the new auditor for the full fiscal year 2022.
Election of new Supervisory Board members (item 6)
With a large majority of more than 99% Helmut Gottschalk (Former Chairman of the Supervisory Board of DZ Bank), Burkhard Keese (Chief Financial Officer, Lloyd’s of London), Daniela Mattheus (Attorney-at-law, Governance Advisor), Caroline Seifert (Management Consultant for Transformation), and Frank Westhoff (Former Member of the Board of Managing Directors of DZ Bank) were elected to the Supervisory Board of Commerzbank.
Agreement on profit transfer agreement with CommerzVentures GmbH (item 7)
The AGM approved the profit transfer agreement with CommerzVentures GmbH concluded on 1 March 2021 between Commerzbank Aktiengesellschaft (as parent company) and CommerzVentures GmbH (as subsidiary) (99.7%).
Munich Re’s Supervisory Board appoints Stefan Golling to the Board of Management
The Supervisory Board of Munich Reinsurance Company has appointed Stefan Golling (44) to the Munich Re Board of Management as of 1 January 2021. Management of the Global Clients and North America Division will pass to Mr. Golling from Dr. Peter Röder, who has chosen to step down from the Board of Management at the age of 60 on 31 December 2020. The Board of Management and the Supervisory Board thank Dr. Röder for his more than 30 years of work at Munich Re, 14 of which he spent on the Board of Management.
Stefan Golling started his career at Munich Re after earning his Mathematics degree at the University of Augsburg, Germany, in 2001. He worked in various underwriting positions before serving as General Manager Non-Life for several years in Sydney, Australia; Mr. Golling has been the Company’s Chief Underwriter and Head of Corporate Underwriting since 2015. In addition to heading the Global Clients and North America Division, Mr. Golling will also oversee the US subsidiaries HSB and AMIG, as well as the Lloyd’s and Bermuda markets.
Supervisory Board of Commerzbank agrees to consensual termination of appointment and contract of CEO Martin Zielke
Upon the recommendation of the Presiding and Nominating Committee, the Supervisory Board of Commerzbank has agreed to the mutual termination of appointment and contract of CEO Martin Zielke.
Zielke has declared his willingness to continue to perform his duties until a successor has been appointed. He will step down from his office the latest on 31 December 2020. On Friday, Zielke offered a mutual termination from office as CEO.