© Reuters. FILE PHOTO: A sign for an ATM of Commerzbank is seen next to the headquarters of Deutsche Bank (R) in Frankfurt

FRANKFURT (Reuters) – The supervisory board chairman of Commerzbank (DE:) on Thursday dismissed reports of the board’s dissatisfaction with the bank’s chief executive officer.

Chairman Stefan Schmittmann was reacting to reports in recent days that some board members were pushing Commerzbank to end merger talks with Deutsche Bank (DE:) and push CEO Martin Zielke from office.

“Rumors and speculation on personnel changes are made up out of thin air,” the bank’s chairman Stefan Schmittmann said in a statement emailed to Reuters.

“Such allegations are irresponsible and unworthy of discussion,” he said.

Germany’s Manager Magazin was one of the news organisations that reported on a rebellion, writing on Wednesday that the push was coming from board members that represent labour.

Schmittman said that Commerzbank “must explore” the option to merge with Deutsche. “I think that’s right and it’s their duty,” he added.

Deutsche Bank Chief Executive Christian Sewing has told his counterpart at Commerzbank that he wants more time to consider a merger, German newspaper die Welt reported on Wednesday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Belgium shares higher at close of trade; BEL 20 up 0.24%

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

WHAT YOUR THOUGHTS

Please enter your comment!
Please enter your name here