The Chairman of the Board of Aareal Bank, Hermann Merkens has made his post for health reasons and temporarily. Merkens had informed the Supervisory Board head of Marija Korsch that he could not exercise for three to four months his duties as a member and Chairman of the Board, informed the Aareal Bank on Sunday. “All Stakeholders are confident that Mr Merkens will return in the first months of next year and we can continue the successful cooperation to continue,” said Korsch. “In the meantime, we will ensure at any time full capability of the company.” Chief financial officer Marc Hess is up to Merkens return in addition, for strategic issues and the representation of the company to the capital market and the Public, as the real estate financier told more. In addition, the management Board Thomas Ortmanns will temporarily assume the essential internal management and coordination tasks. “Both together will help to ensure that Aareal Bank group will continue to meet this challenge,” said Korsch. The Aareal Bank specializes in the financing of real estate for Hotels, offices and shopping centres, and receives the effects of the Corona-crisis. In the second quarter, the operating profit slumped 97 percent to two million euros.
© SZ from the 09.11.2020 / Reuters
