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Commerzbank CEO and board take a pay cut in 2018

Commerzbank CEO and board take a pay cut in 2018
FILE PHOTO: A sign for an ATM of Commerzbank is seen next to the headquarters of Deutsche Bank (R) in Frankfurt, Germany, March 19, 2019. REUTERS/Kai Pfaffenbach   -   Copyright  KAI PFAFFENBACH(Reuters)
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FRANKFURT (Reuters) – Commerzbank’s chief executive officer took a 32 percent pay cut in 2018, according to the bank’s annual report on Wednesday.

Total compensation for Martin Zielke was 1.97 million euros (£1.7 million), down from 2.88 million euros in 2017.

Pay for the management board of the German bank, which is in talks with Deutsche Bank to merge, declined 24 percent.

(Reporting by Tom Sims, Hans Seidenstuecker and Arno Schuetze; editing by Thomas Seythal)

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