Dr Ulrich Schröder steps down for health reasons / Dr Günther Bräunig proposed as successor

Frankfurt am Main (ots) - The Chair of the KfW Board of
Supervisory Directors, Germany's acting Federal Minister Peter
Altmaier, and Deputy Chair Brigitte Zypries, acting Federal Minister
of Economic Affairs and Energy, provide this statement following the
meeting of the KfW Board of Supervisory Directors on 7 December 2017:

Today, the Board of Supervisory Directors agreed to prematurely
terminate the contract of KfW's Chief Executive Officer Dr Ulrich
Schröder (65) at his own request with effect from 31 December 2017,
for health reasons. Dr Schröder was first appointed to KfW's
Executive Board as Chief Executive Officer of KfW on 1 September 2008
and has stepped down from his duties as Chief Executive Officer and
as Member of the KfW Executive Board with effect from 31 December
2017.

The Chair of KfW's Board of Supervisory Directors, Federal
Minister Peter Altmaier, said: "The Board of Supervisory Directors of
KfW would like to thank Dr Schröder immensely for his extraordinary
achievements in managing and modernising KfW in the past years.
During Dr Schröder's term of office, KfW has fulfilled its task as a
promotional bank in an outstanding manner. Thus, the bank played an
important role in overcoming the financial and economic crisis and is
one of the key players in global climate and environmental finance.
Under his direction, KfW took the decision to establish its own
investment subsidiary to pool and extend its activities in the field
of venture capital financing. KfW today also is a role model for the
establishment of promotional banks all over the world. The Board of
Supervisory Directors wishes Dr Schröder all the best for the
future."

Until the final appointment of Dr Schröder's succession, Deputy
Chief Executive Officer Dr Günther Bräunig will continue to fulfill
the tasks of the Chief Executive Officer. The new Chief Executive
Officer will be appointed by the Board of Supervisory Directors of
KfW after consultation with the federal cabinet. We propose Dr
Bräunig as succeessor to Dr Schröder and are confident that the
necessary decisions will be taken soon and responsibly.

Detailed CVs and press photos are available on the KfW website at
Executive board of KfW (http://ots.de/zYse2).

Pressekontakt:
KfW, Palmengartenstr. 5 - 9, 60325 Frankfurt
Kommunikation (KOM), Dr Michael Helbig,
Tel. +49 (0)69 7431 2277, Fax: +49 (0)69 7431 3266,
E-Mail: Michael.Helbig@kfw.de, Internet: www.kfw.de

Original-Content von: KfW, übermittelt durch news aktuell