Ad hoc

Change in Group Executive Management at VP Bank

  ·   Ad hoc announcement pursuant to Art. 53 LR
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Martin C. Beinhoff, Member of Group Executive Management and Chief Operating Officer, will leave VP Bank Group at the end of June 2017. Information regarding his successor shall be provided in due course.

Chief Operating Officer (COO) Martin C. Beinhoff has decided to leave VP Bank Group at the end of June 2017. As COO, he has been responsible for Group Credit, Group Operations and Group Information Technology, as well as for VP Bank’s digitisation offensive. He has made very valuable contributions in his sphere of responsibility, proactively tackled important issues and strengthened the COO management organisation. Martin C. Beinhoff moved ahead with the centralisation of downstream tasks previously performed at the international sites of VP Bank Group, enhanced the efficiency and transparency of key administrative processes, and resolutely pursued cost synergies. 

On this occasion, the Board of Directors would like to express its sincere thanks to Martin C. Beinhoff for his strong commitment and achievements on behalf of the Bank. Effective as of 1 July 2017, Chief Executive Officer Alfred W. Moeckli and Chief Financial Officer Siegbert Näscher will co-head the Chief Operating Officer business unit on an ad interim basis. Information regarding a successor to Martin C. Beinhoff shall be provided at the appropriate time.