The supervisory board of Raiffeisen Bank International (RBI) has accepted Herbert Stepic’s resignation as CEO of RBI and has appointed Karl Sevelda, the board member responsible for corporate banking in the RBI Group, to take over the function of CEO with immediate effect.
Stepic offered to resign his position due to personal reasons on 24 May, 2013, and will step down from the RBI management board with immediate effect.
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Sevelda has over 35 years of banking industry experience, including more than 20 years spent at Creditanstalt-Bankverein. From 1998 to 2010, he was a member of the board of Raiffeisen Zentralbank Österreich AG and since 2010 has served as deputy Chairman of RBI’s board.
Alongside his role as CEO, Karl Sevelda will retain responsibility for corporate banking until a new division of functional responsibilities is determined by the supervisory board. Johann Strobl has been appointed the new deputy Chairman of the RBI board.
Chairman Walter Rothensteiner said:
"Herbert Stepic’s strategic vision and effective implementation skills played a vital role in building RBI into a leading banking group in Central and Eastern Europe (CEE) and in Austria. Today, RBI is present in 17 markets in CEE, operating the largest branch network of any western bank in the region with more than 3,000 branches. RBI currently serves more than 14 million customers and employs approximately 60,000 people. Under the leadership of Herbert Stepic, RBI withstood well the financial crisis and earned the highest annual profit by far of any Austrian bank in 2011 and 2012."
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