HSH Nordbank CEO Wants 4.8 Million-Euro Payment, Focus Says

HSH Nordbank AG Chief Executive Officer Dirk Jens Nonnenmacher is seeking 4.8 million euros ($6.4 million) in compensation when he steps down, Focus magazine said in a news release previewing its Dec. 6 edition, citing unidentified people close to the negotiations.

The bank is offering him 2 million euros, the magazine cited the people as saying.

“The terms, conditions and timing of the CEO’s departure will be decided upon once a successor has been named,” Rune Hoffmann, an HSH spokesman, said today by phone.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net.

To contact the editors responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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