Deutsche Bank

Achleitner's Future in Doubt

Paul Achleitner, chairman of the supervisory board at Deutsche Bank AG, pauses at the Suddeutsche Zeitung economic summit in Berlin, Germany, on Friday, Nov. 28, 2014. Euro-area inflation slowed in November to match a five-year low, prodding the European Central Bank toward expanding its unprecedented stimulus program. Photographer: Krisztian Bocsi/Bloomberg *** Local Caption *** Paul Achleitner
Paul Achleitner, the former Goldman Sachs executive, may not be chairman of Deutsche Bank for much longer.
  • Why it matters

    Why it matters

    Deutsche Bank’s major investors say the supervisory board is partly to blame for the lender’s serious crisis, and they are demanding answers from supervisory board chairman Paul Achleitner.

  • Facts

    Facts

    • Paul Achleitner’s contract as chairman of the non-executive supervisory board expires in 2017.
    • The bank has lost nearly half of its market value within the last six months.
    • Investors had been reluctant to level criticism against Mr. Achleitner in the past, partly out of fears that removing both the supervisory board chairman and the two co-CEOs in 2015 would have been disastrous.
  • Audio

    Audio

  • Pdf

Investors in Deutsche Bank were in for a shock last week: Shocked by a record loss for 2015, by the prospect of two more lost years looming on the horizon and, most of all, by the plunge in the stock price of Germany’s largest bank.

It’s been a tough start to 2016. The price has declined by 28 percent since the beginning of the year, and the bank has lost nearly half of its market value within the last six months. John Cryan, the bank’s co-chief executive, has warned the next two years won’t be much better as the bank undergoes a drastic restructuring and works to settle thousands of costly legal cases and regulatory investigation.

The share plunge has prompted Deutsche Bank’s major investors to announce that they intend to meet in the coming weeks with Paul Achleiter, the chairman of the bank’s non-executive supervisory board, which has the power to set strategy and hire and fire the bank’s top executives.

Want to keep reading?

Subscribe now or log in to read our coverage of Europe’s leading economy.