Deutsche Bank expands Management Board
The Supervisory Board of Deutsche Bank (XETRA: DBKGn.DE/NYSE: DB) announced today that it has realigned individual responsibilities on the Management Board in line with the Bank's ongoing strategic, regulatory and litigation priorities. As a consequence, the Supervisory Board has appointed two new members to the Management Board.
Stefan Krause, age 51, Chief Financial Officer (CFO) since 2008, will take a new position as Head of Strategy and Organisational Development, effective November 1, which will combine responsibility for strategic development and all major change initiatives at the Bank. Mr. Krause will continue as CFO until the conclusion of the Annual General Meeting on May 21, 2015.
Dr. Marcus Schenck, age 48, who will join the Bank from Goldman Sachs as General Manager (“Generalbevollmächtigter”) and Deputy CFO, will be appointed to the Management Board, effective on conclusion of the Annual General Meeting on May 21, 2015, at which time he will succeed Mr. Krause as CFO.
Henry Ritchotte, age 51, will continue as Chief Operating Officer with responsibility for Technology and Operations, and will in addition assume responsibility for the Bank’s global digital agenda.
Christian Sewing, age 44, currently Global Head of Group Audit, will become a Management Board member and take responsibility for Legal and the Bank’s Incident Management Group, effective January 1, 2015.
Dr. Stephan Leithner, age 48, will focus on client opportunities in his existing role as Chief Executive Officer Europe (ex-Germany and UK) and will continue to head Government & Regulatory Affairs, Compliance and Human Resources. He will coordinate the next phase of the Bank’s cultural change programmes.
In line with the recommendations of the German Corporate Governance Code, the contracts of the newly-named Management Board members will be for three years. At its July meeting, the Supervisory Board already extended the current three-year contracts of Dr. Stephan Leithner, Stuart Lewis and Henry Ritchotte by five years until 2020.
Deutsche Bank AG
60325 Frankfurt am Main
Listed: Regulated market in Berlin-Bremen, Duesseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich und Stuttgart; EUREX; NYSE
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