Deutsche Bank’s Supervisory Board nominates new members

Deutsche Bank’s Supervisory Board nominates new members

Deutsche Bank’s Supervisory Board nominates new members

The FINANCIAL -- The Supervisory Board of Deutsche Bank will submit a proposal for the Annual General Meeting on 18 May 2017 for two new members to be elected to the Supervisory Board.

Gerhard Eschelbeck is the Head of IT Security at the US technology group Google and is to succeed Peter Loescher, whose period of office will end as scheduled and who is not available for re-election.

The Supervisory Board has also nominated Alexander Schuetz for election. The founder and Chief Executive Officer of C-Quadrat, headquartered in Vienna, Austria, is to replace Klaus Ruediger Truetzschler who will also leave the committee as scheduled, according to Deutsche Bank.

C-Quadrat manages HNA Group’s stake in Deutsche Bank. Schuetz is to be elected at the Annual General Meeting 2017 for an initial period of one year so that in the coming year he can be nominated for a regular term of five years.

The Supervisory Board has also nominated its current chairman, Paul Achleitner, for a further term of five years. Should his nomination be approved at the Annual General Meeting, the intention is for Achleitner to be re-elected as chairman.

As previously announced, Stefan Simon will also stand for election at this year’s Annual General Meeting. He was appointed as a member of the Supervisory Board by court order in August 2016.

“We are delighted that another anchor investor is demonstrating it is convinced of Deutsche Bank's long-term success,” said Supervisory Board Chairman Achleitner. “In Alexander Schuetz we have a capital markets expert with many years of experience in asset management joining the Supervisory Board. In Gerhard Eschelbeck we will also be gaining an expert in the critical topic of cyber security for the bank and the Supervisory Board.”

Achleitner thanked the departing members: “During a turbulent period Peter Loescher and Klaus Ruediger Truetzschler made valuable contributions to the work of the Supervisory Board. On behalf of my colleagues on the Supervisory Board, I would like to thank them most sincerely for their commitment and their untiring dedication.”

There is also already a consensus in the Supervisory Board to nominate Norbert Winkeljohann for election at the Annual General Meeting 2018. He is Chairman of the Management Board of the advisory and accounting firm PricewaterhouseCoopers in Germany and is to replace Henning Kagermann, who has decided not to stand for re-election.