Tuesday, 2. July 2013
Topic: AUSTRIA - on July 2, 2013 at 6:50:00 PM CEST
CEO of Hypo Alpe Adria Bank Resigns
The chief executive of troubled Austrian lender Hypo Alpe-Adria Bank AG has resigned, the bank said Tuesday in an unexpected announcement.
The bank didn't give a reason for Gottwald Kranebitter's resignation, but said he would remain with the bank until August, when it reports its first-half earnings.
Attempts to reach Mr. Kranebitter for comment weren't immediately successful.
The bank, which was nationalized during the financial crisis, will need a further disbursement of aid from the government in August to boost liquidity.
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