Erste Group Bank Announces CEO Succession Plan, Awaiting European Central Bank Approval

Erste Group Bank has announced that its current CEO, Willi Cernko, will resign, with Peter Bosek, the current leader of Luminor Bank in Estonia, designated as his successor. This leadership change is scheduled to take effect on July 1, 2024, pending approval from the European Central Bank.

Bosek comes to the role with over 25 years of banking experience at Erste Group, having served in several key positions including CEO of Erste Bank Oesterreich and Chief Retail Officer. As he transitions to his new position, Bosek will resign from all other commitments.

Cernko will continue to lead Erste Group Bank until the transition next year and will remain with the organization as an advisor until the end of 2024. The transition plan is subject to approval from the European Central Bank.