Changes at BRE Bank

Changes at BRE Bank

At its next sitting the Supervisory Board meeting of BRE Bank SA, will consider a motion for the appointment of its Member. Mr. Andre Carls – current Vice-President, Chief Financial Officer of BRE Bank, is recommended as a successor of Mr. Martin Blessing.  

Mr. Andre Carls made a decision on the resignation from the position held so far. In September he will be recommended as a Supervisory Board Member of BRE Bank. As the President of the Management Board of the newly established Holding, he is a Supervisory Board member of all affiliated entities of Commerzbank in the Central and Eastern Europe. BRE Bank, which represents the majority of the holding’s profits, is the last company where the reorganisational process takes place.

These changes result from the last-year’s succession plan announced by the Commerzbank. As expected, on 15 May 2008, Mr. Martin Blessing took up a post of the President of the Management Board of Commerzbank. In light of the newly established setup and referring to Andre Carls' role as CEO of Commerzbank's CEE segment Mr. Martin Blessing decided to step back from the Supervisory Board of BRE Bank.

“It is natural that this change will bring consequences also for the BRE Bank"- explains Mr. Maciej Leśny, the Chairman of the Supervisory Board of BRE Bank.

At the next Supervisory Board meeting, its chairman - Mr. Maciej Leśny, will recommend Mr. Andre Carls as a new Supervisory Board Member.

Both, Mr. Blessing and Mr. Carls will perform their functions till 4 September 2008. Then Mr. Carl's successor will be also appointed as the new Chief Financial Officer of BRE Bank.

The Polish Financial Supervision Authority was informed about the aforementioned decision.