Manfred Knof to Depart Commerzbank at Month-End

Commerzbank AG announced the departure of its CEO, Manfred Knof, effective September 30, 2024. Knof and the Supervisory Board have mutually agreed upon this decision. He will be succeeded by Bettina Orlopp, currently 54, who assumes the role of CEO. Knof had indicated earlier this month that he did not seek a second term.

Jens Weidmann, Chairman of the Supervisory Board, expressed gratitude for Knof’s contributions. Knof navigated the bank through challenging times and refocused it on customer needs and social responsibility. Under his leadership, Commerzbank re-emerged as a successful European bank.

Knof stated his pride in Commerzbank’s achievements and affirmed that the bank is well-positioned for future success. Having joined Commerzbank in early 2021, his tenure focused on a sustainable growth-centric business model.