Raiffeisen CEO resigns: what is known
18 December 2025 20:44
Johann Strobl, CEO of Raiffeisen Bank International (RBI), has announced his resignation. He is to be replaced by the bank’s former CFO Michael Heller in July. Bloomberg writes about it, "Komersant Ukrainian" reports.
The announcement comes amid a long-running and unresolved problem – Raiffeisen’s presence in Russia, which is increasingly putting pressure on the bank and its management.
Market reaction
The news had a negative impact on the stock price: on December 18, Raiffeisen shares fell by 2.6%, leading the decline on the Vienna Stock Exchange. Investors seem to have taken the change in management as a signal of uncertainty about the bank’s future strategy.
What is the key problem?
During Strobl’s tenure, RBI failed to find a buyer for its Russian assets that would receive simultaneous approval from regulators in Russia and the West. As a result, the bank’s Russian subsidiary has accumulated more than €5 billion in retained earnings, which is effectively blocked due to capital controls in Russia.
Strobl’s legacy
Strobl has been working in the banking sector since the 1990s and joined Raiffeisen in 2007. In 2010, he joined the management board, first as chief risk officer, and in 2017 he became CEO of the bank. During this time, Raiffeisen’s shares have risen by more than 60%, while the Stoxx Europe 600 Banks index has added more than 90%.
Who will replace him
Michael Hellerer was previously the CFO of the RBI in 2020-2022 and later became the head of Raiffeisenlandesbank Niederösterreich-Wien, the group’s largest shareholder and one of the key banks in Austria. His appointment is still subject to regulatory approval.
Strobl’s mandate formally expired only in 2027, but he decided not to extend it. The new CEO faces a difficult task: to determine the future of RBI’s Russian business in the face of sanctions, regulatory restrictions, and growing pressure from investors and Western governments.
