Two veteran managers are leaving the Executive Board of VZ Group. Their tasks will be distributed among the remaining members.
VZ Group is shrinking its management board from nine two to seven members. The head of the mortgage platform Lorenz Heim and the head of Germany Tom Friess will no longer be part of the company's management as of the end of September, according to a statement (in German) Wednesday. Both have been part of the financial services provider's top management for over 20 years.
Both are leaving the executive board at their request in order to take a step back but will continue to work for VZ Group in different capacities.
The remaining members of the board will take over their tasks. The mortgage business will now also be taken over by Marc Weber, CEO of VZ Depotbank. Group CEO Giulio Vitarelli assumes responsibility for the German business at the beginning of October.
