The Supervisory Board of Deutsche Bank AG today extended the appointments of Management Board members Dr. Josef Ackermann and Dr. Tessen von Heydebreck until the general meeting following their 62nd birthdays. Dr. Ackermann's contract will therefore run until the end of the Annual General Meeting in 2010; Dr. von Heydebreck's until the end of the Annual General Meeting in 2007.
With immediate effect the Supervisory Board has also appointed Dr. Ackermann as Chairman of the Management Board (Chief Executive Officer). Henceforth the Management Board of Deutsche Bank will be headed by a chairman who is appointed by the Supervisory Board. Deutsche Bank is thus conforming to national and international practice in the appointment of its Management Board.
At the Management Board's proposal, the Supervisory Board today resolved - subject to the establishment of the Annual Financial Statements – to propose to the Annual General Meeting on 1 June 2006, that a dividend of € 2.50 per share be paid for the 2005 financial year. This is an increase of 47 per cent compared with the previous year, when a dividend of € 1.70 per share was paid.