Bettina Orlopp Named CEO of Commerzbank

Commerzbank AG has appointed Bettina Orlopp, the current Chief Financial Officer, as its new Chief Executive Officer, in a strategic move to counter a potential hostile takeover by UniCredit SpA. Orlopp will replace Manfred Knof, who decided not to seek a second term. UniCredit, which has rapidly increased its stake in Commerzbank to around 21% and aims to raise it further, has expressed intentions of a full takeover. Both Commerzbank and the German government oppose the takeover, with Orlopp committed to maintaining the bank's independence. Orlopp, known for her strong leadership and strategic acumen, faces the challenge of reassuring shareholders and navigating the bank through this critical period.