Top Deutsche Bank Investors Focusing Discontent on Chairman - Bloomberg:
Some top Deutsche Bank AG investors are growing increasingly dissatisfied with supervisory board Chairman Paul Achleitner.
Representatives of the Qatari royal family, Cerberus Capital Management and HNA Group have internally discussed pushing for Achleitner’s exit before his term expires in 2022, according to people with knowledge of the matter. While the shareholders have voiced their frustrations among themselves, it’s unclear how they’ll vote at the bank’s annual general meeting on Thursday.
The deliberations add to signs that Deutsche Bank will face tough questions when investors and management convene at what’s shaping up to be one of the most tense gatherings of the season. The biggest shareholder advisory firms are recommending to vote against last year’s actions by the supervisory and management boards -- a rejection that would amount to an embarrassing vote of no confidence but wouldn’t force leaders to step down.
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