VZ Holding AG: Changes in VZ Group's Executive Board

Ad hoc announcement pursuant to Art. 53 LR
Source: VZ Holding AG / SIX: VZN / ISIN: CH0528751586

Changes in VZ Group's Executive Board

Zug, 28 June 2023 Tom Friess and Lorenz Heim have been part of VZ Group's Executive Board for more than 20 years. Friess heads the business in Germany, Heim the group's mortgage platform. At the end of September 2023, both will leave the Executive Board at their own request in order to cut back a little. They will continue to work for VZ Group in a changed function.

From 1 October 2023, the German business will be represented on the Executive Board by Group CEO Giulio Vitarelli, while Marc Weber, CEO of VZ Depository Bank, will assume the additional responsibility for the mortgage business. As a result, the Executive Board will be reduced from nine to seven members. The Board of Directors thanks Tom Friess and Lorenz Heim for their many years of outstanding commitment to the Executive Board and looks forward to cooperating with them in the future.

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