Heribert Karch will retire as CEO of the metal industry retirement fund MetallRente GmbH, Berlin, at the end of the year, a spokesman confirmed.
Mr. Karch, who has been responsible for management of the €7 billion ($8.3 billion) fund since it was founded, will be replaced by Hansjoerg Muellerleile and Kerstin Schminke.
Effective Jan. 1, Mr. Muellerleile was named CEO and Ms. Schminke was named managing director.
Mr. Muellerleile is currently director for corporate pensions and related benefits as well as head of legal affairs at the €5.5 billion Bosch Pensionsfonds AG, Stuttgart, Germany. A spokesman could not be reached, but Mr. Muellerleile said in an email that his successor has not yet been named.
Ms. Schminke is political secretary in the tariff policy department of the executive board of metal workers union IG Metall.