Bayern keeps faith in Jan-Christian Dreesen as CEO by extending contract

 Bayern Munich has extended Jan-Christian Dreesen's contract as chief executiveby two years through June 2027.

The Bavarian powerhouse said on Monday it was “committed to continuity” in its leadership and the 57-year-old Dreesen's contract extension was unanimously agreed by its supervisory board.

“Dreesen took over the chairmanship of the board during a difficult phase and quickly led FC Bayern Munich AG back into calmer waters. We want to continue on this path together. We're certain he is the right person to tackle the challenges ahead together with his board colleagues Michael Diederich and Max Eberl,” club president Herbert Hainer said in a Bayern statement.

Dreesen's extension refutes a widely read report last month that the club decided not to continue with its former chief financial officer at the helm.

Dreesen joined Bayern from the banking sector in 2013 and was promoted to vice-chairman of the supervisory board in 2014 before taking over as Oliver Kahn's replacement last year. Kahn and sporting director Hasan Salihamidžic were both fired on the day Bayern won its 11th straight Bundesliga title.

Dreesen oversaw Bayern failing to win the Bundesliga for the first time since 2012 as Bayer Leverkusen won the title last season, but this season it has started promisingly. Bayern was already five points clear at the top after 10 rounds under new coach Vincent Kompany.

Bayern also appointed Christopher Freund as sporting director and Eberl as its board member for sport. Diederich is the club chief financial officer.

Bayern will hold its annual general meeting on Dec. 8, when it is likely to announce another season of record revenue.