Sydbank Ord Regulatory News (0MGE)

Aabenraa, Denmark, 2017-07-19 09:00 CEST (GLOBE NEWSWIRE) --

Bo Normann Rasmussen, who was elected to Sydbank’s Board of Directors in 2015 and has been a member of the Board since then, has decided of his own choice to resign from the Bank’s Board of Directors as of today. His decision is a consequence of the government’s sale of its ownership interest in Vestjysk Bank to a group of investors including AP Pension of which Bo Normann Rasmussen is CEO. Bo Normann Rasmussen has stated that he does not wish to bring himself at risk of any independence issues and that is the reason for his decision.

Torben Nielsen, Chairman of the Board of Directors, expresses full understanding for Bo Normann Rasmussen’s decision and at the same time thanks Bo Normann Rasmussen for his important and significant work for Sydbank through the years.

As a result of the resignation of Bo Normann Rasmussen, the Board of Directors consists of seven members elected by the Shareholders’ Committee and three members elected by the Bank’s employees.

Please contact the undersigned if you have any questions regarding this company announcement.

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