April 24, 2018 / 2:21 PM / 3 months ago

Deutsche Bank's supervisory board voices support for chairman

FRANKFURT (Reuters) - The supervisory board of Deutsche Bank (DBKGn.DE) has voiced support for its chairman, Paul Achleitner, who has come under fire for his handling of management changes at the bank.

FILE PHOTO: Deutsche Bank supervisory board chairman Paul Achleitner gives a speech during the Swiss International Finance Forum in Bern, Switzerland June 20, 2017. REUTERS/Arnd Wiegmann/File Photo

“The entire Supervisory Board has never had, and still does not have, any doubts concerning Dr. Achleitner’s comprehensive personal and professional skills and integrity,” the board said in a document posted to Deutsche Bank’s website on Tuesday.

The statement came in response to an item added recently to the agenda of the bank’s annual general meeting, due on May 24, that calls for Achleitner’s removal from the board.

The agenda item was added at the behest of an investor, Riebeck-Brauerei, which said that the recent replacement of Deutsche Bank Chief Executive John Cryan with Christian Sewing was a “very unprofessional process” led by Achleitner that was “driven solely by self-preservation”.

The supervisory board urged shareholders to vote against the proposal to oust Achleitner. The board has “full confidence in his performance”, according to the document.

Reporting by Tom Sims; Editing by Maria Sheahan

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