Wiesbaden, 23 November 2021 – The Chairman of the Supervisory Board of Aareal Bank AG, Marija Korsch, today notified the Management Board that following major decisions on the Bank’s future in recent days and weeks she has resigned with immediate effect from the office of Chairman of the Supervisory Board, which she has held since 2013. Furthermore, she will step down from office as a member of the Supervisory Board with effect from 31 March 2022. The Supervisory Board will present a candidate for succession to be elected in the next ordinary General Meeting.
Marija Korsch said: “Now is the right time to pass on the chairmanship of the Supervisory Board. The successful appointment of Jochen Klösges as new Chief Executive Officer, and the investment agreement concluded today with a bidder company that is pursuing a long-term strategy for Aareal Bank, have set the course for the future. I have always devoted all my energy to the Bank as Chairman of the Supervisory Board and, in the interests of an orderly transition, I wish to continue doing so in the months ahead as an ordinary member of the Supervisory Board.
The Supervisory Board today elected Professor Dr Hermann Wagner, who has been a member of the Supervisory Board of Aareal Bank AG since 2015 and chairs the Audit Committee, to succeed Ms Korsch as Chairman.
The new Chairman of the Supervisory Board of Aareal Bank, Professor Dr Hermann Wagner, said: “It is an honor for me to take up this responsible position as successor to Marija Korsch. Not least thanks to her work, our Bank is well positioned and ideally equipped to meet the challenges of the future. For this, she deserves our thanks on behalf of the entire Supervisory Board. In the months ahead, I will personally focus on facilitating the process initiated by the announcement of a takeover offer, from the Supervisory Board, with a steady hand. Working closely with the Management Board, I am confident that we will succeed in this endeavour.”
Chief Executive Officer Jochen Klösges said: “On behalf of the entire Management Board of Aareal Bank, I would like to express our most sincere gratitude to Marija Korsch for the close and constructive collaboration over recent years. As Chairman of the Supervisory Board, she was challenging and highly skilled in our interactions and, by virtue of her office, played a major role in shaping Aareal Bank Group’s current positioning. I personally have greatly valued our working relationship in recent months, which was both highly intensive and productive. As the Management Board, we are confident that we will seamlessly continue in the same manner with our new Chairman of the Supervisory Board, Professor Dr Hermann Wagner, and support Aareal Bank in moving forward on its successful path.”