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Erste Group Bank CEO succession plan announced, pending European Central Bank approval

EditorAmbhini Aishwarya
Published 10/05/2023, 02:29 AM
© Reuters.

Erste Group Bank has announced that its current CEO, Willi Cernko, is set to resign, with Peter Bosek, the present leader of Luminor Bank in Estonia, named as his successor. This change is scheduled to take effect on July 1, 2024, following the approval from the European Central Bank.

Bosek brings with him an extensive background in banking with over 25 years of experience at Erste Group. He has held several prominent roles within the organization including CEO of Erste Bank Oesterreich and Chief Retail Officer. As part of his transition into the new role, Bosek will step down from all other commitments.

Cernko, who will continue to lead Erste Group Bank until the transition next year, will remain with the bank as an advisor until the end of 2024. The bank's leadership transition plan is contingent on receiving approval from the European Central Bank.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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