Some major investors in Deutsche Bank are demanding a succession plan for Chairm...
FILE PHOTO: Deutsche Bank's Supervisory Board Chairman Paul Achleitner gestures as he addresses the audience during the bank's annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai Pfaffenbach
FRANKFURT - Some major investors in Deutsche Bank are demanding a succession plan for Chairman Paul Achleitner, two people with knowledge of the matter said on Tuesday, amid discontent with the bank’s turnaround. Achleitner, whose term expires in 2022, is coming under pressure just days ahead of the bank’s annual general meeting. The investors are calling for him to step down before the end of his term.Achleitner’s record of installing board members and overseeing the bank has been checkered, said one of the people, who spoke on condition of anonymity.Deutsche Bank shares hit a record low on Monday and are down 36 percent since investors gathered for last year’s meeting.
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