New CEO for HSH Nordbank – Stefan Ermisch becomes Chairman of the Management Board
Hamburg/Kiel, May 9, 2016 - One week after the EU Commission’s official decision on the Bank’s future, the Supervisory Board set the course for new management of HSH.
Dr. Thomas Mirow, Chairman of the Supervisory Board, said: “The decision taken in Brussels gives our Bank an exceptionally demanding job to do. To be successful will above all require dependable and focused management performance in the next two years. We have therefore completed the renewal of our Management Board begun in 2015, have now reduced the number of Board members from five to four and have, in Stefan Ermisch, appointed a new Chairman as experienced as he is dynamic.
Stefan Ermisch (50), hitherto Deputy Chairman of the Management Board and CFO, takes over the helm at the Bank effective 10 June and will lead HSH Nordbank into the key phase of the change in its ownership.
“Now is the right time, when looking ahead at the challenges in the next few years, to carry out this change of management as planned. Stefan Ermisch knows HSH Nordbank inside out; he is a strong leadership personality with great experience in managing private-sector institutions as well as in the landesbank sector and has a clear vision of the future,” Thomas Mirow said.
“This is a distinguished task that I will face with full commitment. We will master the challenges that lie ahead of us if government and the Bank act in concert. After all, it is a matter of doing all we can – despite the difficult starting position – to protect the assets of our two federal state owners Hamburg and Schleswig Holstein and to show the Bank’s employees a clear way forward beyond that day, too,” Stefan Ermisch said.
Aware of the Supervisory Board’s wish in this respect, Constantin von Oesterreich (63) has by mutual agreement resigned his chairmanship of the Management Board effective 10 June. He will retain his contractual entitlements.
“Prudently and successfully, Constantin von Oesterreich led the Bank through difficult years with great personal commitment and expertise in various Management Board positions; as its Chairman, Risk Officer and Chief Financial Officer. It is particularly thanks to him that the Bank passed the ECB stress test in the autumn of 2014; that it was able to successfully overcome the EU procedures and therefore now enjoys good prospects. The Supervisory Board expresses its thanks to him for this and for his readiness to facilitate the change of management at the beginning of the privatisation process, and it wishes him all the best for the new phase in his life,” Thomas Mirow said.
Oliver Gatzke (47) will be HSH Nordbank’s new Chief Financial Officer. The Hamburg native has been in charge of the Finance division, having joined HSH Nordbank in 2013 from being a partner in auditing and consulting company KPMG. In the past few years Oliver Gatzke played a key part in taking the Finance division further forward and established a trusting relationship with major stakeholders in the Bank.
Matthias Wittenburg (47), responsible on the Management Board for Corporates and Markets since January 2013, will by mutual agreement leave the Bank on 10 June to take on new career challenges. The Supervisory Board thanks Mr Wittenburg for his commitment and wishes him every success for the future.
Management Board member Torsten Temp will in the future be in sole charge of Capital Markets, Corporate and Real Estate Clients as well as Shipping. The Bank already made a new appointment to the Risk department in October 2015, in Ulrik Lackschewitz having gained an experienced risk manager.
The information contained in this press release does not constitute an offer for the sale of any type of HSH Nordbank AG securities. Securities of HSH Nordbank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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