Scandal-hit Deutsche Bank announces new CEO
- 9 years ago
Shares in Deutsche Bank have jumped just one day after the German banking giant’s two Chief Executive Officer’s resigned.
Anshu Jain and Jürgen Fitschen stepped down on Sunday after an emergency meeting of the bank’s board in Frankfurt, however Fitschen will remain in his position until May next year.
Jain will be replaced by Briton,John Cryan, who will become the sole CEO in 2016. The bank said the reason for this gradual change was to ensure a smooth transition.
“Deutsche Bank has not had the best reputation over the past three years. It’s been known as the bank racked by scandals. That image needs to change. It’s the same as politics: new brooms sweep clean. They want a clean slate, get rid of the problems that they have and they’re aware that new people are going to have a fresh start. They’re won’t be two CEOs anymore. It doesn’t work well in the long run. There’s an old proverb that claims on every ship with steam and sails, there is only one man in charge. And that’s Mr.
Anshu Jain and Jürgen Fitschen stepped down on Sunday after an emergency meeting of the bank’s board in Frankfurt, however Fitschen will remain in his position until May next year.
Jain will be replaced by Briton,John Cryan, who will become the sole CEO in 2016. The bank said the reason for this gradual change was to ensure a smooth transition.
“Deutsche Bank has not had the best reputation over the past three years. It’s been known as the bank racked by scandals. That image needs to change. It’s the same as politics: new brooms sweep clean. They want a clean slate, get rid of the problems that they have and they’re aware that new people are going to have a fresh start. They’re won’t be two CEOs anymore. It doesn’t work well in the long run. There’s an old proverb that claims on every ship with steam and sails, there is only one man in charge. And that’s Mr.