- The Annual General Meeting will take place on 10 August, on the same date as the publication of the figures for the second quarter
- Prof. Dr Hermann Wagner, Chairman of the Supervisory Board, announces that he will not be available for another nomination in 2024, after almost 10 years on the Supervisory Board
- Jean Pierre Mustier proposed for election to the Supervisory Board
- Sylvia Seignette, whose regular term of office ends in 2023, to step down
- Mustier: “Aareal has a rich history, robust capital and strong profitability. I am enthusiastic about the opportunity ahead for each of the bank and Aareon. I look forward to bringing my experience to Aareal.”
- Wagner: “By announcing my personal plans at an early stage, the Supervisory Board has sufficient time for an orderly transition. Until then, I look forward to continuing my active support to the Bank.”
Wiesbaden, 29 June 2023 – Today, Aareal Bank AG has convened its ordinary Annual General Meeting on 10 August 2023, the day on which the figures for the second quarter will be published.
Moreover, Prof. Dr Hermann Wagner, Chairman of the Supervisory Board of Aareal Bank AG, also announced today that, once his Supervisory Board mandate expires in 2024, he will not be available for renomination.
Prof. Dr Hermann Wagner said: “I have been a member of the Supervisory Board and Head of the Audit Committee since 2015. I have been chairing the Supervisory Board since November 2021, and steered the Bank through material strategic challenges in demanding times. Atlantic BidCo’s takeover of Aareal Bank Group, which I supported from the outset, has now been successfully concluded, allowing the Group to continue its growth programme as planned. So next year, at the age of 68, 44 of which I have been working, I will be able to fulfil my long-held wish for more time for my private life. Until then, I look forward to continuing my active support to the Bank.”
The regular term of office of Sylvia Seignette, who has been a member of the Supervisory Board since 2015, will end at the close of the Annual General Meeting 2023.
Prof. Dr Hermann Wagner commented: “On behalf of the entire Supervisory Board, I would like to sincerely thank Sylvia Seignette for her long-standing and dedicated work on the Supervisory Board. As Chairperson of the Risk Committee, she advised the Supervisory Board competently on the Bank’s risk strategy – also in eventful times. Moreover, during her term of office, she led the Risk Committee through numerous regulatory changes and enriched the Supervisory Board with her international expertise.“
The Supervisory Board proposes Jean Pierre Mustier to be elected to the Supervisory Board. Jean Pierre Mustier is an experienced and high-profile manager in the European banking industry and was Chairman of the European Banking Federation until 2021. From 2016 to 2020, he was CEO of Unicredit, prior to that he was Deputy General Manager at Unicredit, where he was responsible for the Corporate & Investment Banking (CIB) division. Mustier started his career at Société Générale, where he held various positions between 1987 and 2009, most recently in charge of Asset Management, Private Banking and Securities Services. He is a graduate of the École Polytechnique and the École des Mines de Paris.
Prof. Dr Hermann Wagner further commented: “I am delighted to be able to propose Jean Pierre Mustier, a seasoned international professional, for election. With his proven capital markets expertise and his international profile, he will further strengthen the Supervisory Board’s profile in terms of diversity and skills.”
Jean Pierre Mustier said: “Aareal has a rich history, robust capital and strong profitability. I am enthusiastic about the opportunity ahead for each of the bank and Aareon. I look forward to bringing my experience to Aareal. I would be very pleased to join the Aareal Supervisory Board, and work with all board members and the management team to contribute to the group development under its new ownership.”
There are 15 items on the agenda for the Annual General Meeting.
Under agenda item no. 2, the Management Board and Supervisory Board propose to the Annual General Meeting that net retained profits for the 2022 financial year be retained in full which is intended to further support Aareal Bank Group’s further profitable growth, within the framework of its “Aareal Next Level” strategy.
Under agenda item 15, the Annual General Meeting shall also vote on the conversion of existing bearer shares into registered shares. This allows for more direct communication with shareholders and a transparent overview of the composition of the shareholders. This will not prejudice the shareholders' rights, particularly with respect to their shareholdings and the tradability of their shares.
Another topic under agenda item no. 6 is the approval of the Remuneration Report for the 2022 financial year. The Remuneration Report comprises details on the remuneration of Management Board and Supervisory Board in the 2022 financial year.
The full agenda of the Annual General Meeting is published here.
The Annual General Meeting will be transmitted by means of an audio-visual broadcast to duly registered shareholders and their authorised representatives, via a shareholder portal on Aareal Bank’s website (Investors – General Meeting 2023) where shareholders will also be able to exercise their voting rights, grant voting proxies and submit questions via this portal.
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