December 6, 2017 / 7:18 PM / a year ago

Germany's KfW head to quit at end-2017 for health reasons -Handelsblatt

BERLIN, Dec 6 (Reuters) - The head of Germany’s state-owned development bank KfW will quit at the end of December due to illness, Handelsblatt reported, citing unidentified sources in the finance industry.

Ulrich Schroeder, 65, had his contract extended until 2020 two years ago, but has decided to leave early, the German business daily reported late on Wednesday. Schroeder has run Frankfurt-based KfW since September 2008.

KfW declined to comment but said its supervisory board had been summoned to meet on Thursday. It gave no further details.

Schroeder informed staff two years ago he was suffering from cancer but kept working while undergoing treatment.

Fellow executive board member Guenther Braeuning was appointed as deputy CEO in September. (Reporting by Andreas Framke Writing by Andreas Cremer; Editing by Mark Potter)

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