The contract will not be renewed due to disagreements about the direction of the company.
Vienna. Surprisingly, Bernd Spalt will not renew his contract, the CEO announced his decision today – one year before his contract expires. The decision is the result of differing views on the general, long-term future direction of the group.
The current contract runs until June 30, 2023 – Spalt will continue to operate until further notice.
Vorarlberger took office on January 1, 2020 – he did not have time to set priorities, three months after taking office, the epidemic broke out and the economy collapsed. Spalt seemed to be the right man at the right time – the 53-year-old had led the bank through the crisis. Of course, the state helped a lot and pushed loan defaults to historic lows. Executive Board contracts are typically for five years, Spalt’s contract for only three and a half years until mid-2023.
In his first statement, Spalt says: “I would like to thank all the Erste Group employees, fellow board members and my closest team for the excellent cooperation over the past few years. I would like to thank Friedrich Ruedler very much for a professional collaboration which was carried out with great seriousness and respect. The first was my professional home and I felt It is always a privilege to pass on the idea of the savings bank to all the countries of the group in the various functions. I am very grateful to have played a major role in the formation of this company over the past few years. Erste is an excellent bank and will remain so in the future.”
Frederic Roedler, Chairman of Erste Group’s Supervisory Board, also thanked Spalt: “Of course we respect Bernd Spalt’s decision and we would like to thank him in advance for his very successful work as CEO. Our company is doing very well, which has been proven by record results and at least all the relevant key figures Over the past 32 years, Bernd has made a significant contribution to Erste’s success in various jobs – even in difficult times.In the many crises of the past, his strategic foresight, consistent actions and personal integrity have resulted in the performance of the most important financial group in the Central European region. and oriental well.”
