FRANKFURT, July 4 — Commerzbank’s chairman and chief executive stepped down yesterday, bowing to demands from top shareholder Cerberus that the German lender change its strategy to stop a downward spiral in its financial performance. The resignations of chief executive Martin Zielke and...
Saturday, 04 Jul 2020 08:28 AM MYT
The resignations of chief executive Martin Zielke and supervisory board chairman Stefan Schmittmann cap weeks of drama after the US private equity firm last month attacked Commerzbank’s management for failing to do enough to stop the decline. Months before Cerberus took its complaints public, the German state, frustrated with the bank’s poor performance, replaced both of its representatives on the supervisory board.
Zielke was meant to present a strategy update to the board this week but the chief executive, in the top spot for four years, but was blocked from doing so by labour representatives.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thiago wants to leave Bayern for new challenge, says CEO Rummenigge(Reuters) - Bayern Munich's Spain midfielder Thiago Alcantara is set to leave the Bundesliga side in the close season because he wants a new challenge, the club's CEO Karl-Heinz Rummenigge has said.
Read more »
Kakak sulung nafi tidak rapat dengan CEO Cradle Fund | The Malaysian InsightChe Elainee Che Hassan berkata beliau berkomunikasi dengan Nazrin menerusi aplikasi WhatsApp sekurang-kurangnya tiga kali dalam tempoh sebulan.
Read more »
Cradle Fund CEO murder trial: Nazrin's sister disagrees siblings were not closeSHAH ALAM (Bernama): The elder sister of deceased Cradle Fund CEO Nazrin Hassan told the High Court here that she disagreed with the notion that she was not close with her younger sibling.
Read more »
Khashoggi's fiancee hopes Turkish trial will reveal fresh evidence | Malay MailISTANBUL, July 2 — A Turkish court will open the trial tomorrow of 20 Saudi officials indicted over the 2018 killing of journalist Jamal Khashoggi, a step his fiancee hopes will shed more light on the death and reveal where his body was hidden. The indictment by Istanbul prosecutors accuses the...
Read more »
‘Next season started today’: Sterling has Liverpool in his sights | Malay MailONDON, July 3 — Raheem Sterling said Manchester City proved a point in a 4-0 thrashing of newly-crowned Premier League champions Liverpool on Thursday as they look to take the title back next season. Sterling scored in a competitive match against his old club for the first time and also had a...
Read more »
Bursa Malaysia remains positive at mid-day | Malay MailKUALA LUMPUR, July 3 ― Bursa Malaysia remained positive throughout the morning session, supported by index-linked counters in line with regional peers. At noon break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.08 points to 1,543.36 from yesterday’s close of 1,536.28. The index...
Read more »