Deutsche Bank CEO says was not asked to resign

Deutsche Bank CEO says was not asked to resign

He termed reports that some management board members had demanded his resignation before the Deutsche Bank's general meeting in May 2012 as "speculation".
Speaking to reporters on the sidelines of the European Banking Congress in Frankfurt on Friday, Ackermann said that he intended to stay at the helm of Germany's largest bank until his term expires.

"This is also the wish of the supervisory board," he said.

Earlier this week, the state prosecutor in Munich opened an investigation against him on charges of making a false testimony during the 2002 bankruptcy trial of German media tycoon Leo Kirch.

Ackermann is to hand over the reins of Deutsche Bank to his designated successors -- India-origin Anshu Jain and Juergen Fitschen -- next year.
Under the present plans, the hand-over would begin early next year and would last till May.

But several top managers of the bank are unhappy with Ackermann's plans to retire with general meeting in May, leading economic daily Handelsblatt had said.

According to the newspaper, at least two management board members had asked him to make way for Anshu Jain and Juergen Fitschen earlier than planned.

As per the report, they have suggested that the best occasion for that would be after
the press conference scheduled for February 2 to present the annual business results.

On November 14, Ackermann unexpectedly announced his decision that he would not be available as a candidate to become the chairman of the Deutsche Bank's supervisory board when his current term expires.

"The extremely challenging conditions on international financial markets and in the political-regulatory environment demand my full attention as the chairman of the bank's management board.

"This does not allow enough scope for the many talks with individual shareholders necessary to implement the original plan," he had said in a statement issued by Deutsche Bank.