Nonnenmacher May Get 2 Million Euros If Fired, Sueddeutsche Says

Dirk Jens Nonnenmacher, HSH Nordbank AG’s chief executive officer, may receive 2 million euros ($2.6 million) if he is dismissed before his contract ends, Sueddeutsche Zeitung reported, without saying how it got the information.

The bank’s owners plan to keep the right to recall any payment if Nonnenmacher were to be convicted of wrongdoing, according to the report. Supervisory board chairman Hilmar Kopper plans to name a successor this month and is in talks with two unidentified candidates, the newspaper said, adding that the new chief will take up his post in February at the latest.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong in Berlin at kwong11@bloomberg.net

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