Commerzbank says management board to shrink to 7 members by 2014
FRANKFURT (Reuters) - Germany's Commerzbank (CBKG.DE: Quote) said Jochen Kloesges and Ulrich Sieber will leave by year end, shrinking the management board of the country's second-largest lender down to seven from nine members.
The board reduction is part of a broader restructuring drive to cut costs launched in November 2012, the bank said on Wednesday.
(Reporting by Edward Taylor)
© Thomson Reuters 2017 All rights reserved.