Commerzbank: Orlopp, talks with UniCredit – let’s not ruin it all now
If no agreement is reached on strategy, a parting of ways cannot be ruled out
(Il Sole 24 Ore Radiocor) - ‘Discussions are underway’ between Commerzbank and UniCredit, ‘which is in the interests of both parties. We mustn’t ruin everything now; it’s vital to choose the right strategy for the future and ensure that no value is destroyed.” This was stated by Commerzbank’s CEO, Bettina Orlopp, speaking at the Handelsblatt banking summit in Frankfurt. “We are in contact; our task now is to work together constructively to find a strategy that maximises the value of both institutions,” she added. “We must be careful not to cause value destruction.” Orlopp then hinted that she would not rule out stepping down should no agreement be reached with the shareholder UniCredit: “I have a contract until 2029,” she specified, noting that being part of the management board “only makes sense if, firstly, there is a relationship of trust with the supervisory board and, secondly, there is agreement on strategy. If this is not the case, the necessary conclusions must be drawn.’
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