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N26 Announces Changes in Supervisory Board
Today, the investors of N26 decided on a change in the composition of its Supervisory Board. With immediate effect, Stefan Ermisch, an expert of the European banking sector, has been elected as a new Supervisory Board member of N26. As usual, his appointment is subject to approval by the German banking supervisory authority. Ermisch succeeds Peter Kleinschmidt, who steps down from the Board with immediate effect.
Dr. Andreas Dombret, Chairman of the N26 Supervisory Board, paid tribute to the outgoing board member: “Peter Kleinschmidt has made major contributions to N26. During a challenging period for the firm, Peter took on responsibility as Interim Chair of the Board. His commitment as Chair of our Risk & Audit Committee is particularly noteworthy, and he significantly contributed to its professionalization. All colleagues and I thank him sincerely for the trustful cooperation.”
At the same time, N26 welcomes Stefan Ermisch as successor to Peter Kleinschmidt. His banking career spans over 30 years and includes roles as CFO of Bank Austria in Vienna, Board Member of HypoVereinsbank in Munich and COO of UniCredit’s Markets and Investment Banking Division in Milan. Ermisch served as CFO and acting CEO of Bayerische Landesbank in Munich and, most recently, as CEO of Hamburg Commercial Bank, which he led through a successful transformation and its privatisation. Today, he acts as senior advisor to several private equity firms and remains engaged in the financial industry.
Dr. Andreas Dombret added: “We are delighted that Stefan Ermisch has agreed to bring his extensive expertise to our Supervisory Board. His profound industry knowledge and experience in complex transformations provide true added value for the next phase of N26’s development. The positive resonance Stefan’s nomination has received from regulators and the market alike underscores his strong reputation as a leader in our industry, and we look forward to working closely with him.”
Stefan Ermisch, designated member of the Supervisory Board, said: “I’m honoured to join the N26 Supervisory Board, supporting one of the most promising banking innovators in Europe as it looks to its next phase. I look forward to working with tenured colleagues as we steer the company towards even greater success in the future.”
Following the vote of the shareholders, the composition of the Supervisory Boards of N26 SE and N26 Bank SE are now identical and, effective today, both consist of Dr. Andreas Dombret (Chair), Deborah Carlson-Burkart, Stefan Ermisch, Jörg Gerbig, Byron Haynes and Dr. Daniel Terberger. Further additions are expected in due course.
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