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Lloyd Fonds' management board reduced to sole member as CEO exits

German investment and asset management company Lloyd Fonds AG said Klaus Pinter will become the sole member of its management board, effective Jan. 1, 2018, after CEO Torsten Teichert agreed with the supervisory board to prematurely terminate his activities on the management board, effective Dec. 31, 2017.

Pinter will assume responsibility for finance, corporate communications and corporate strategy, in addition to his previous duties.

Lloyd Fonds' supervisory board decided Dec. 10 to begin talks with Teichert regarding his early exit from the company due to "differences of opinion on operating and strategic matters," among others. Teichert's service contract ordinarily expires June 30, 2019.

In addition, the company named Jens Birkmann as its new deputy chairman, with effect from Dec. 15. Birkmann takes over from Thomas Duhnkrack, who stepped down Dec. 10.