September 11, 2013 / 4:40 PM / 4 years ago

Ackermann likely to step down from Siemens board - source

Josef Ackermann, chairman of Zurich Insurance Group, answers questions after delivering the opening speech of the Reuters Global Wealth Management Summit in Geneva June 3, 2013.Valentin Flauraud

FRANKFURT (Reuters) - Josef Ackermann, the former chief executive of Deutsche Bank (DBKGn.DE), will likely step down from his position as second deputy chairman at Siemens (SIEGn.DE), a source familiar with the plan said on Wednesday.

The move comes two weeks after the Swiss executive resigned as chairman of Zurich Insurance ZURN.VX following the suicide of the chief financial officer, and marks a dramatic turn in the once stellar career of the 65-year-old who until last year who was one of Europe's most powerful bankers.

Both Siemens and Ackermann's spokesman declined to comment on Wednesday.

In June Ackermann clashed with fellow Siemens directors during a tussle over whether to oust Chief Executive Peter Loescher.

When supervisory board chairman Gerhard Cromme pushed for Loescher to be removed immediately, Ackermann was among the few executives on the board to dissent, saying, "Gerhard, you can't do it this way.

Ackermann is also a member of the nomination and succession committee at Royal Dutch Shell (RDSa.L) where he is a non-executive director, and a director at Investor AB (INVEb.ST), an investment company founded by Sweden's Wallenberg family.

Reporting by Philipp Halstrick and Jens Hack; Writing by Edward Taylor; Editing by Alexander Ratz and Elaine Hardcastle

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