Commerzbank shares jump after CEO, board chair quit - KTIV

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FRANKFURT, Germany (AP) — Shares in Germany’s Commerzbank have jumped more than 8% on Monday. The market reaction comes after the CEO and the board chairman turned in their resignations last week. CEO Martin Zielke and board chair Stefan Schmittmann threw in the towel on Friday. The bank lost money in the first quarter and some key investors aren’t happy about the pace of change.  The Frankfurt-based bank is reportedly considering dropping thousands of jobs and closing branches. The 150-year-old financial institution needs to find a way forward after talks last year about a merger with German rival Deutsche Bank didn’t lead to a deal.  

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Commerzbank shares jump after CEO, board chair quit - KTIV
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