Martin van Gemmeren and Ulrich Voss leaving HSH Nordbank at their own request (DE)

Two executives, namely Management Board member Martin van Gemmeren and Chief Operating Officer 'Generalbevollmächtigter' Ulrich Voss, are leaving HSH Nordbank at their own request after making major progress in their respective areas of responsibility, now that the Bank is by large on the path towards a secure future.

Van Gemmeren, the Management Board member principally responsible for the Restructuring Unit, asked the Supervisory Board to terminate his contract prematurely. He joined HSH Nordbank in October 2006 and has been a member of the Management Board since November 2009. Van Gemmeren will leave the Bank to devote himself to new, demanding tasks within the banking sector. A successor is to be appointed without delay.

Hilmar Kopper, Chairman of HSH Nordbank AG's Supervisory Board, stated: "It is with great regret that we accepted Martin van Gemmeren's wish to terminate his contract. Over the past years he has made a very important contribution to the stabilization and realignment of HSH Nordbank AG.

"Under his aegis the Restructuring Unit has already reduced its holdings of non-strategic assets by around 40%, and its operations are now profitable on the basis of robust structures and processes. The second loss guarantee, which he helped structure in a significant manner, has already been cut by 30%. We would like to thank Martin van Gemmeren for his outstanding performance and wish him the very best for the future."

Ulrich Voss, Chief Operating Officer 'Generalbevollmächtigter' since the end of 2009 and thus responsible for the IT, Operations and Services units, is also leaving HSH Nordbank at his own request and by mutual agreement. A decision on his succession is also to be made without delay.

"Through his work Ulrich Voss has made a key contribution towards streamlining HSH Nordbank and making it more efficient, while at the same time improving the quality of its services. We thus have the best preconditions for moving further along this path.

"We would like to thank Ulrich Voss for his successful work, we regret his departure and wish him the very best for the future," stated Paul Lerbinger, Chairman of HSH Nordbank AG's Management Board.

Source: HSH Nordbank AG

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