A year before the forthcoming contract extension, CEO Bernd Spalt informed the Supervisory Board that he did not want to extend his contract. According to a press release, his decision was the result of different opinions about the future long-term overall direction of the group.
Spalt’s contract would have run until the end of June 2023. Now he announced that he does not want to extend it. For the time being, however, he will continue to run the business. The process for the successor is to be started at the Annual General Meeting next Wednesday, May 18th.
“Of course we respect Bernd Spalt’s decision and would like to thank him in advance for his extremely successful work as CEO,” said Friedrich Rödler, Chairman of the Supervisory Board, in the press release.
Bernd Spalt is 54 years old and has held various positions at Erste Group for 32 years.
Source: Nachrichten
