India, July 5 -- German lender Commerzbank AG's (CRZBY.PK) chief executive officer, Martin Zielke, offered a mutual termination from the office. The supervisory Board Chairman, Stefan Schmittmann, resigned with effect from 3rd of August 2020, the company said in a statement.
Martin Zielke said, "Even if we made strategic progress, the financial performance of the Bank has been and is unsatisfactory...I would like to open the way for a fresh start. The bank needs a profound transformation and a new CEO, who gets the necessary time from the markets to implement a strategy."
The company noted that the Presiding and Nomination Committee decided to recommend to the supervisory Board of the company to mutually terminate the appointment of Marti...