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Frankfurt / Main (dpa) - After personnel quarrels in the supervisory board, Commerzbank has completed the list of candidates for its supervisory body.

At the general meeting now scheduled for May 18, the shareholders are to elect the new supervisory board, as the Frankfurt-based MDax group announced on Thursday evening.

The supervisory board had already agreed on the future chairman of the supervisory board at the weekend: Helmut Gottschalk (69), former head of the supervisory board of the cooperative DZ Bank, is to take over the post after Hans-Jörg Vetter's retirement due to illness.

The former spokesman for the board of directors and head of the supervisory board of the bank HSBC Trinkaus & Burkhardt, Andreas Schmitz, had hoped for the successor to Vetter.

But Schmitz, who only moved into the Commerzbank supervisory board at the beginning of the year, did not get a chance and resigned his mandate last week with immediate effect.

Because of the vacant positions on the Supervisory Board, the bank had postponed the general meeting planned for May 5th.

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In addition to Gottschalk, management consultant Daniela Mattheus, former Telekom manager Caroline Seifert and former DZ Bank board member Frank Westhoff are to be elected to the supervisory board of the bank, whose largest shareholder since the financial crisis of 2008/2009 is the German state

With the dispatch of the invitation to the Annual General Meeting, a fourth shareholder candidate will be proposed, who has not yet been named for formal reasons.

The unrest in the supervisory board comes at an inopportune time for Commerzbank.

The institute has already had turbulent months.

In the summer, the then CEO Martin Zielke and the then supervisory board chairman Stefan Schmittmann announced their resignation after harsh criticism from investors - the financial institution plunged into a management crisis.

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The long-standing Allianz manager Manfred Knof has led the board since the beginning of the year and initiated a tough austerity course.

The number of full-time positions across the Group is to be slashed from just under 40,000 to 32,000 by the end of 2024.

The branch network in Germany will be almost halved to 450 locations.

After losing billions in 2020, the institute is aiming for black numbers again, at least in day-to-day business.

© dpa-infocom, dpa: 210401-99-59831 / 2

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DZ Bank on Gottschalk's appointment as chairman of the supervisory board, May 27, 2010

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