Sydbank A/S announced change in the composition of Sydbank?s Group Executive Management. The position of Deputy Group Chief Executive with responsibility for Credits and Compliance etc. is handed over to a new member of the Group Executive Management from the Bank?s own ranks.

Member of the Group Executive Management and Deputy Group Chief Executive Bjarne Larsen resigns from his position in this connection. Sydbank?s current Group Executive Vice President, Credits, Stig Westergaard, is appointed as Deputy Group Chief Executive with responsibility for Credits and Compliance etc. The Board of Directors has decided to change the composition of the Group Executive Management.

The changes are effective immediately. Stig Westergaard is a trained lawyer and has been employed with Sydbank for 20 years. He has been responsible for the Legal Department, Compliance and most recently Credits.

Stig Westergaard is 56 years old, married, and the father of three children. The family lives in Kolding. Sydbank?s Group Executive Management thus consists of CEO Karen Frøsig, Deputy Group Chief Executive Jørn Adam Møller and Deputy Group Chief Executive Stig Westergaard.

As previously announced by Sydbank, Mark Luscombe will join Sydbank as Deputy Group Chief Executive on 1 April 2024 with a view to being appointed as CEO after a transition period until 31 July 2024 when Karen Frøsig retires.