Deutsche Bank is sticking with the dual CEO model for the next few years the bank says.
The German banking giant announced today that a committee of its board intends to propose to extend its co-chief executive officer team by renewing the contract of co-CEO, Jürgen Fitschen, at its next board meeting on October 29. Fitschen’s existing contract expires after the annual general meeting in May 2015.
Under the proposal, the contracts of Fitschen and his counterpart, Anshu Jain, would continue through March 31, 2017.
“Jürgen Fitschen and Anshu Jain together requested the renewal,” said Paul Achleitner, chairman of the bank’s supervisory board. “It is the right signal for our company as well as for the finance industry. Since becoming Co-CEOs, Jürgen and Anshu have made numerous important decisions that are positioning Deutsche Bank in the right direction.”
Fitschen and Jain said, “In the years ahead, our focus is to continue to further strengthen Deutsche Bank and to position it as one of the world’s leading global universal banks in service of all its stakeholders.”