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Chairman Stefan Schmittmann was reacting to reports in recent
days that some board members were pushing Commerzbank to end
merger talks with rival Deutsche Bank and push CEO Martin Zielke
from office.
"Rumors and speculation on personnel changes are made up out of
thin air," Schmittmann said in a statement emailed to Reuters.
"Such allegations are irresponsible and unworthy of discussion."
Germany's Manager Magazin was one of the news organizations that
reported on a rebellion, writing on Wednesday that the push was
coming from board members who represent employees.
Schmittmann said that Commerzbank "must explore" the option to
merge with Deutsche. "I think that's right and it's their duty,"
he added.
Deutsche Bank CEO Christian Sewing has told his counterpart at
Commerzbank that he wants more time to consider a merger.
The two banks announced merger talks on March 17. If successful,
they would create Europe's third-largest bank from Germany's top
two lenders, which have struggled to recover since the financial
crisis.
Government officials, led by Finance Minister Olaf Scholz, have
pushed for a merger to create a national banking champion and
end questions over the future of the two banks.
A tie-up between the lenders is an enormous undertaking because
both are already in the midst of restructuring, some bankers and
regulators have said, adding that a merger would not necessarily
solve Deutsche's core weakness, its sprawling global investment
bank.
From the start, some major investors have expressed scepticism
about a deal, while unions have warned of 30,000 potential job
losses.
Days after the talks were announced, Zielke promised the bank's
employees a quick decision on whether to go forward with a
merger, according to a memo seen by Reuters.
The Commerzbank workers' council then sent a letter to board
members to protest against the merger, saying the idea lacked
support among workers, customers and society.
"We are of the opinion that you will fall into an uncontrollable
adventure without a solid plan, without a vision and without
support," the letter said.
Zielke subsequently met seven employees on the 47th floor of the
bank's Frankfurt tower to quell concerns and explain his stance.
"The alternative of doing nothing is not an option," he said,
according to comments posted on the bank's intranet and seen by
Reuters.
(Reporting by Tom Sims and Hans Seidenstuecker; Editing by Keith
Weir and David Goodman)
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