**New Leadership at Commerzbank Amidst Takeover Threats**
In a move to strengthen its defenses against a potential hostile takeover by Italian bank UniCredit, Commerzbank has appointed Bettina Orlopp as its new chief executive. Orlopp, a 10-year veteran of the bank and current CFO, will take the reins from Manfred Knof in the near future.
The German lender has been under pressure since UniCredit acquired a 21% stake in the company, sparking concerns of a full takeover. Senior officials at Commerzbank and the German government have expressed opposition to a hostile takeover, and Orlopp’s appointment is seen as a key step in fending off the threat.
Orlopp brings extensive experience to the role, having worked in various capacities at Commerzbank since 2014. She has covered finance, investor relations, tax, and treasury departments, and has also served as deputy chairwoman of the board of directors.
In her new role, Orlopp will be tasked with navigating the challenges ahead, including UniCredit’s bid to increase its stake in the company to 29.9%. Orlopp has urged calm and emphasized the need to approach the situation carefully.
The appointment has been welcomed by some, who see Orlopp’s experience and knowledge of the company as crucial in this critical period. However, others have expressed concerns about her involvement in past decisions that may have contributed to Commerzbank’s current situation.
As the bank prepares for a potential battle with UniCredit, Orlopp’s leadership will be closely watched. With her contract set to run for five years, she will have the opportunity to make a lasting impact on Commerzbank’s future.
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