Finance
Commerzbank Is Speeding Up CEO Succession After UniCredit Move
- Lender is working to prepare response to UniCredit approach
- CEO Knof has said he won’t seek another term when his expires
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Commerzbank AG is looking to speed up the process to replace Chief Executive Officer Manfred Knof as it contends with a possible takeover approach by rival UniCredit SpA.
Chief Financial Officer Bettina Orlopp is still viewed as a strong candidate to succeed Knof, although the bank will also vet external candidates with the help of headhunter Egon Zehnder, according to people familiar with the matter who asked for anonymity discussing internal deliberations.