Changes in personnel in DEG's Management Board

• Christiane Laibach appointed chair of the Management Board
• Monika Beck to join Management Board

After consulting DEG's Supervisory Board, KfW's Executive Board announced that the chairman of DEG's Management Board, Bruno Wenn, will enter early retirement at his own request effective from 30 June 2018. Christiane Laibach will assume the position of chair of the DEG Management Board on 1 July 2018. Until this time, she will continue her role as the member of the DEG Management Board responsible for Corporates, Funds and Customer Solutions. Christiane Laibach joined KfW in 1990 and was a member of the Management Board of KfW IPEX-Bank from 2008 to 2015. She has been a member of the Management Board of DEG since 2015.

"We would like to thank Mr Wenn for his 36 extremely successful professional years at KfW Group. He has had a strong hand in shaping both KfW and DEG. The Executive Board attaches great importance to charting a clear course early on in the choice of an appropriate successor for this key role. We are looking forward to the continued close cooperation with and high level of expertise provided by Christiane Laibach in KfW Group's international business," said Dr Norbert Kloppenburg, Member of the Executive Board of KfW Group.

In addition, the Executive Board has appointed Monika Beck to fill Christiane Laibach's shoes on DEG's Management Board from 1 July 2018. Ms Beck has worked for KfW since 2001 and held management positions in KfW Development Bank's divisions Eastern Europe and Africa/Middle East from 2004 to 2015. She became head of KfW's Compliance department in 2015. Here she is mainly responsible for operative compliance, focusing on the issues of fraud prevention/securities compliance and moneylaundering/sanction rules.

Philipp Kreutz, member of the DEG Management Board since May 2008, will continue his role on the Management Board.

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