Frank Witter nominated for election to Deutsche Bank's Supervisory Board
Frank Witter, Group Chief Financial Officer at Volkswagen AG, has been nominated to become a member of the Supervisory Board of Deutsche Bank AG. At the Annual General Meeting on May 27, 2021, Deutsche Bank’s Supervisory Board will submit a proposal for the election of Witter as successor to Gerd Alexander Schütz, Chairman of the Management Board of C-Quadrat Investment AG, who informed Deutsche Bank that he will resign from his mandate on the Supervisory Board at the 2021 Annual General Meeting.
“We are delighted to be able to nominate Frank Witter, a proven financial expert and a representative of a leading German industrial firm, for election to the Supervisory Board,” said Supervisory Board Chairman Paul Achleitner. “The Nomination Committee has thereby attracted a candidate to us who would further enhance the Supervisory Board with his knowledge of the demands of corporate clients and his many years of experience in banking.”
Frank Witter was born in 1959 in Hanover. He is an economist who began his career as an apprentice in banking and has worked for Volkswagen since 1992. After holding several management positions in finance and treasury Witter became Chief Executive Officer of Volkswagen Financial Services AG, a VW subsidiary with its own banking licence, in 2008. He joined the Group Board of Management in 2015 and serves as Chief Financial Officer. Last year Witter announced he would retire from Volkswagen end of June 2021.
Paul Achleitner thanked departing Supervisory Board member Mr. Schütz for his collaboration and his dedication to the bank: “Mr. Schütz has been a member of our Supervisory Board for four years and has made important contributions during this period. We thank him for his work and wish him well.”
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2020 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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Frank Witter, Group Chief Financial Officer at Volkswagen AG, has been nominated to become a member of the Supervisory Board of Deutsche Bank AG. At the Annual General Meeting on May 27, 2021, Deutsche Bank’s Supervisory Board will submit a proposal for the election of Witter as successor to Gerd Alexander Schütz, Chairman of the Management Board of C-Quadrat Investment AG, who informed Deutsche Bank that he will resign from his mandate on the Supervisory Board at the 2021 Annual General Meeting.
“We are delighted to be able to nominate Frank Witter, a proven financial expert and a representative of a leading German industrial firm, for election to the Supervisory Board,” said Supervisory Board Chairman Paul Achleitner. “The Nomination Committee has thereby attracted a candidate to us who would further enhance the Supervisory Board with his knowledge of the demands of corporate clients and his many years of experience in banking.”
Frank Witter was born in 1959 in Hanover. He is an economist who began his career as an apprentice in banking and has worked for Volkswagen since 1992. After holding several management positions in finance and treasury Witter became Chief Executive Officer of Volkswagen Financial Services AG, a VW subsidiary with its own banking licence, in 2008. He joined the Group Board of Management in 2015 and serves as Chief Financial Officer. Last year Witter announced he would retire from Volkswagen end of June 2021.
Paul Achleitner thanked departing Supervisory Board member Mr. Schütz for his collaboration and his dedication to the bank: “Mr. Schütz has been a member of our Supervisory Board for four years and has made important contributions during this period. We thank him for his work and wish him well.”
For further information please contact:
Deutsche Bank AG
Media Relations
Sebastian Krämer-Bach
+49 69 910-43330
Email: sebastian.kraemer-bach@db.com
Christian Streckert
+49 69 910- 38079
Email: christian.streckert@db.com
Investor Relations
+49 800 910-8000
Email: db.ir@db.com
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2020 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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