Commerzbank CEO Flags Exit as Germany Starts to Sell Stake

Commerzbank AG Chief Executive Officer Manfred Knof won’t seek an extension to his contract, leaving the German lender searching for a replacement at the same time as the government begins to sell its stake.

Chief Financial Officer Bettina Orlopp is seen as a strong candidate to succeed Knof, although the bank will also vet other people for the role including external ones, people familiar with the matter said. A decision may come as early as this year, but could also slip into 2025, they said, asking not to be named discussing the private information.