First Group Manager Andreas Bierwirth turns his back on the bank. The former Magenta boss, who joined the money house in 2022 and should have been promoted to board member according to the plan, will leave the company in the summer. Transportation delays are likely a contributing factor.
As Bierwirth wrote on the “LinkedIn” platform, a fit & proper test was scheduled for September that was necessary for the board position and admission to the board would have taken place on October 1 if the test was passed. “Slightly longer than initially planned by everyone, but the current bank failures have given me a lot of insight that a full balance year has become the minimum experience required for appointment to the board of directors,” says the manager. In this context it had become clear to him “that any future expansion of my areas of responsibility can only be carried out at a much more prudent pace than initially hoped by some parties and also by me”.
As the “Presse” recently reported, Bierwirth should have taken the aptitude test earlier, which delayed the bank’s plans. According to “Kurier”, the manager is aiming for the position of CEO. Among other things, the regulatory hurdles made him aware that there was no chance of being appointed CEO of the bank in the foreseeable future.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
