The Eurohypo Supervisory Board is adapting to the new status quo in ownership since the acquisition of a majority shareholding by Commerzbank AG, Frankfurt am Main. On 31 March 2006, Commerzbank has acquired a 98.04% stake in Europes leading real estate and public sector finance bank. This is also be reflected in the composition of the Supervisory Board.
Chairman of the Supervisory Board, Dr. Manfred Gentz, together with Dr. Hugo Banziger, Deutsche Bank and Dr. Andreas Georgi, Dresdner Bank, resigned from their posts on 31 March 2006. As successors the Commercial Court in Frankfurt am Main has appointed on 4 April 2006 Klaus-Peter Müller, Wolfgang Hartmann and Dr. Achim Kassow of Commerzbank. Their nominations will be put to the Eurohypo AGM on 29 May 2006.
The Eurohypo Management Board expressed its thanks to the outgoing members for the high level of support given to Eurohypo on the challenging path it has taken in the Supervisory Board Meeting on March 24, 2006. Messrs Banziger and Georgi already joined the Eurohypo AG Supervisory Board in 2002 at the time of the merger of the three mortgage banks. Dr. Manfred Gentz was only voted onto the Eurohypo Supervisory Board at the AGM held on 25 May 2005, for the specific purposes of managing the originally planned stock exchange launch.