Hamburg, 14^th May 2020 - The Supervisory Board of Varengold Bank AG has resolved ahead of time to re-appoint Dr. Bernhard Fuhrmann as a Member of the Management Board until April 14^th, 2026. It was also agreed to extend his management contract to the same date. "The early extension was made to ensure planning reliability and long-term continuity at the top of the organisation at an early stage. However, our decision also reflects Dr. Fuhrmann's successful re-positioning of the bank and the associated positive financial results" explained Dr. Karl-Heinz Lemnitzer, the Chairman of the Supervisory Board, the unanimous resolution. Dr. Bernhard Fuhrmann commented on his extended term of office as follows: "I am looking forward to continue my work with my fellow Board member Frank Otten. We will proceed further on the strategic path that we have chosen for Varengold Bank, which will lead to a further strengthening of our operational capabilities."
 

Disclaimer

This release contains forward-looking statements that involve certain risks and uncertainties. Future results may differ materially from those currently anticipated due to various risk factors and uncertainties, such as changes in business, economic and competitive conditions, currency exchange rate fluctuations, litigation uncertainties or investigations, and availability of financial resources. Varengold Bank AG assumes no responsibility for updating the forward-looking statements contained in this release.

Contact:
Ms. Sanja Schultz-Szabo (Head of Corporate Development)