BayernLB

12-Dec-2018

Dr Johannes-Jörg Riegler to leave BayernLB, Supervisory Board appoints deputy CEO Dr Edgar Zoller as interim head

Munich – The Supervisory Board of BayernLB has reached a highly amicable agreement with CEO Dr Johannes-Jörg Riegler that his contract expiring on 28 February 2019 will not be renewed. “We would like to thank Dr Riegler for assuming responsibility at a difficult time and systematically disposing of legacy issues,” commented Dr Wolf Schumacher, Chairman of the BayernLB Supervisory Board. “Dr Riegler played a major role in concluding the EU state aid proceedings ahead of schedule and helped ensure the Bank once again has a solid earnings base and therefore attractive business prospects.”

The Supervisory Board has launched a structured process to find a suitable successor. “Quality takes precedence over speed,” said Supervisory Board Chairman Schumacher. Until a new CEO takes up the reins, Dr Edgar Zoller will act as interim head in his role as deputy CEO of BayernLB. “The Supervisory Board is confident that the Bank is in capable hands during this interim phase under Edgar Zoller. He will push forward with the major issues concerning the Bank, while also ensuring continuity in the Bank’s operations,” reiterated Schumacher.