The Chair of KfW's Board of Supervisory Directors, Peter Altmaier, Federal Minister for Economic Affairs and Energy, and the Deputy Chair Olaf Scholz, Federal Minister of Finance, issued this statement following the meeting of KfW's Board of Supervisory Directors on 11 April 2018:

The Supervisory Board already decided to establish a separate responsibility for IT on KfW's Executive Board last year. This move reflects the high priority of information technology modernisation at KfW.

This role will be assumed by Melanie Kehr (43). She has been Chief Information Officer (CIO) in charge of Group IT at BayernLB since 2014. Prior to this, Ms Kehr worked for many years at the management consultancy firm Accenture, where she was responsible for the further development of information technologies for banks, the last years as a partner.

Melanie Kehr will initially join KfW as a General Manager in order to meet the regulatory requirements for managing directors pursuant to the German Banking Act (KWG). After she has successfully completed the phase as General Manager, she will then be appointed to KfW's Executive Board.

We are delighted that with Ms Kehr a highly qualified expert with many years of experience in the field of IT at banks is joining KfW, who will certainly give the bank valuable impetus for making KfW’s information technology fit for the future.