Varengold Bank AG appoints new member to the Supervisory Board

Tobias M. Weitzel is to be appointed as a member of the Supervisory Board of Varengold Bank AG – an application to this effect has already been submitted by the Management Board to the Hamburg District Court. Mr Weitzel is to succeed Dr Karl-Heinz Lemnitzer, who has unfortunately resigned his mandate for personal reasons. The Management Board and Supervisory Board would like to express their sincere thanks to Dr Lemnitzer for his many years of cooperation and for the committed and competent way in which he has always actively supported the further development of Varengold Bank.

In the course of the future reappointment of the mandate, Tobias M. Weitzel, a successful entrepreneur and experienced financial expert, was quickly recruited for the Supervisory Board of Varengold Bank. He is a board member and founder of CREDION AG, a Hamburg-based innovative financing platform focussing on the financing of small and medium-sized companies. In his role as general representative of CREDION Kapitalverwaltungsgesellschaft mbH, he is also responsible for the areas of risk management and compliance, among other things. From 2012 to 2020, he was a member of the board of the Financial Experts Association e.V., one of the leading organisations for corporate governance and independent financial experts on supervisory boards in Germany. Mr. Weitzel also holds other positions, including that of Chairman of Verve SE, one of the world's leading ad tech companies, and a membership position on the advisory board of Enercast GmbH, a leading technology company for weather-based artificial intelligence and the digitalization of renewable energies. He is also an investor and mentor in several young companies with a focus on AI.

Together with the current members Dirk Auerbach and Vasil Stefanov, he will provide important and forward-looking impetus for the bank.