Ad hoc announcement pursuant to Section 48d (1) of the Austrian Stock Exchange Act
Robert Zadrazil, 45, will take over the function of Chief Executive Officer from Willibald Cernko, 59, as from 1 March 2016, subject to the consent of all corporate bodies and regulatory approval.
Erich Hampel, Chairman of Bank Austria’s Supervisory Board: "We thank Willibald Cernko for the excellent job he has done in the years since his appointment in 2009. He initiated the transformation of Bank Austria into a modern universal bank and took essential strategic decisions for the successful future of the bank. As president of the Austrian Bankers´ Association he emphasised essential points in the interests of the entire banking industry.
The decision, taken in December, to fundamentally restructure the retail banking business set the course for the future. With the forthcoming implementation of this decision within the framework of UniCredit’s multi-year plan, the timing is ideal for a change of generations. With Robert Zadrazil, we have been able to appoint an experienced manager for the job, who has been working in our group in different management functions for the past 15 years. Most recently, Robert Zadrazil has proved his management skills as Management Board member responsible for Private Banking. I am therefore convinced that Robert Zadrazil is the right manager to successfully drive and shape the rebuilding of our bank on the basis of the existing concepts and the decisions made. I wish him every success."
Willibald Cernko will continue to perform the function of CEO until 29 February 2016. This will ensure an orderly handover of responsibilities.
Robert Zadrazil has been working in Bank Austria since 2001. In 2006 he joined the Management Board of Bank Austria as Chief Operating Officer. In addition, since August 2007, Zadrazil has also been responsible for Global Banking Services in Central and Eastern Europe within UniCredit Group. In May 2009, Zadrazil was appointed Chairman of the Executive Board of Schoellerbank AG. Since September 2011, Zadrazil has headed Bank Austria’s Private Banking Division as Management Board member. Zadrazil, born in Vienna, is married and father of two children.
Enquiries: Bank Austria Corporate Relations
Günther Stromenger, phone: +43 (0)50505-57232