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The Supervisory Board of Deutsche Bank
announced
today that it has realigned individual responsibilities on the Management
Board in line with the Bank's ongoing strategic, regulatory and litigation
priorities. As a consequence, the Supervisory Board has appointed two new
members to the Management Board.
Stefan Krause, age 51, Chief Financial Officer (CFO) since 2008, will take
a new position as Head of Strategy and Organisational Development,
effective November 1, which will combine responsibility for strategic
development and all major change initiatives at the Bank. Mr. Krause will
continue as CFO until the conclusion of the Annual General Meeting on May
21, 2015.
Dr. Marcus Schenck, age 48, who will join the Bank from Goldman Sachs as
General Manager ("Generalbevollmächtigter") and Deputy CFO, will be
appointed to the Management Board, effective on conclusion of the Annual
General Meeting on May 21, 2015, at which time he will succeed Mr. Krause
as CFO.
Henry Ritchotte, age 51, will continue as Chief Operating Officer with
responsibility for Technology and Operations, and will in addition assume
responsibility for the Bank's global digital agenda.
Christian Sewing, age 44, currently Global Head of Group Audit, will become
a Management Board member and take responsibility for Legal and the Bank's
Incident Management Group, effective January 1, 2015.
Dr. Stephan Leithner, age 48, will focus on client opportunities in his
existing role as Chief Executive Officer Europe (ex-Germany and UK) and
will continue to head Government & Regulatory Affairs, Compliance and Human
Resources. He will coordinate the next phase of the Bank's cultural change
programmes.
In line with the recommendations of the German Corporate Governance Code,
the contracts of the newly-named Management Board members will be for three
years. At its July meeting, the Supervisory Board already extended the
current three-year contracts of Dr. Stephan Leithner, Stuart Lewis and
Henry Ritchotte by five years until 2020.
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