Raiffeisen CEO Departs, Leaving Russia Dilemma to Successor (2)

Raiffeisen Bank International AG Chief Executive Officer Johann Strobl is resigning, leaving it to his successor to solve the headache created by the Austrian bank’s Russian unit.

The incumbent CEO will be replaced by Michael Hoellererin July, the bank said in a statement late Wednesday, appointing a former chief financial officer to the role.

Shares of Raiffeisen fell 2.6% on Thursday, leading declines in Vienna.

Strobl, 66, has led the bank through a tumultuous period that has been dominated for almost four year by efforts — so far unsuccessful — to sell the unit in Russia after the country ...