Deutsche Bank's DWS CEO Resigns - Read Why

  • Deutsche Bank AG DB asset management subsidiary DWS said its Chief Executive Officer Asoka Woehrmann is set to step down on June 9.
  • The resignation has happened following a search by investigators amidst the controversy surrounding the executive and allegations that the company inflated its ESG credentials, Bloomberg reported.
  • Woehrmann will be succeeded by Stefan Hoops, who will take responsibility for Asset Management at the Group level. In addition, Hoops will become CEO of DWS Group with effect from June 10, 2022.
  • "The allegations made against DWS and me over the past months, including personal attacks and threats, however unfounded or undefendable, have left a mark,” the report cited Woehrmann's farewell message to staff.
  • Price Action: DB shares traded lower by 0.27% at $11.15 in the premarket session on the last check Wednesday.
  • Photo Via Company

Posted In: BriefsNewsManagementMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.