Board of Supervisory Directors of KfW: Executive Board

Following the meeting of the Board of Supervisory Directors of KfW on 27 April 2016, Board Chairman Sigmar Gabriel, Federal Minister for Economic Affairs and Energy, and Deputy Chairman Dr Wolfgang Schäuble, Federal Minister of Finance, announced the following:

The Board of Supervisory Directors today extended the contract of Dr Norbert Kloppenburg (60) as member of the Executive Board until 31 October 2017. Dr Kloppenburg was first appointed to the Executive Board on 1 January 2007. He is responsible for KfW’s international business.

Dr Joachim Nagel (49) will join KfW as the future successor of Dr Kloppenburg. Member of the Executive Board of the Deutsche Bundesbank since 2010, Dr Nagel will initially assume the position of a General Manager as of 1 November 2016. After successfully concluding his term as General Manager, Dr Nagel is expected to move up to the Executive Board effective 1 November 2017.

With Dr Joachim Nagel, KfW is gaining a recognised expert with many years of experience in financial management, who can provide valuable impetus for the work of the promotional bank.