Banken: Chef Abel geht nach Flugaffäre – Sparkasse überschüttet ihn mit Lob

Stadtsparkasse Langenfeld lavished praise on outgoing CEO Dirk Abel following his departure from the bank. In a statement, the institution commended Abel for his "outstanding contributions" and noted that his leadership transformed the bank into one of the "most successful and profitable savings banks" in their regional association.

Abel's decision to step down was not his own, but rather due to a compliance affair surrounding a luxury trip he took to the Maldives. A judicial investigation revealed "unfit handling of compliance requirements." Abel had been on leave since late June following the incident. The bank and Abel agreed that Abel would not fulfill his contract ending on May 31, 2027.

His position was provided to him on August 4. However, the bank only revealed Abel's name in the institute's list after a week. The Handelsblatt questioned the bank about the announced separation, but the bank declined to answer. On Tuesday, the bank announced Abel's departure through a press release, accompanied by extensive praise for the former CEO.

The board emphasized that Abel's supposed retirement allowed for a "preemptive replacement." The board stated that with the future management team, the successful path taken under Abel would continue. Abel claimed to have paid for the luxury flights himself, stating the Business-Class tickets, valued at nearly 12,000 Euros, were booked by a third party using bonus miles.

The Reppegathers, whose brother Uwe is currently in prison, had business relationships with the Sparkasse Langenfeld and had spent millions on engagements. Abel had always denied involvement in financing or gifting the trip, stating that the miles were paid for entirely and exclusively by him. Abel also acknowledged that the construction might give rise to unnecessary speculation.

He had previously declared that he had given Reppegather the 12,000 Euros in cash for the tickets to be forwarded to the holder of the miles account. The law firm Görg was investigating the case, though the bank stated that no evidence of potentially criminal behavior had been found. The board's concern about Abel's handling of compliance requirements ultimately led to the termination of cooperation.

It remains unclear what financial arrangements were made between the Sparkasse and Abel. The latest annual report states that Abel would be entitled to a pension of 55 percent of his pensionable earnings in the event of non-renewal. The maximum pension amount would be 55 percent of the fixed earnings at the time of retirement. Abel last received over half a million Euros annually.

The institute refused to disclose whether and in what form these provisions would apply to the premature termination. A spokesperson only stated that providing such information would infringe on "overwhelmingly protected private interests of the former CEO."