March 16, 2017 / 6:36 PM / 8 months ago

Deutsche Bank nominates Chairman Achleitner for another five yrs

FRANKFURT, March 16 (Reuters) - Deutsche Bank Chairman Paul Achleitner has been nominated for another five-year term on the lender’s supervisory board, extending his time at the helm of Germany’s flagship lender which is undergoing another strategy overhaul.

“Should his nomination be approved at the Annual General Meeting, the intention is for Achleitner to be re-elected as chairman,” Deutsche Bank said in a statement on Thursday.

Deutsche also said it would submit a proposal for the Annual General Meeting on 18 May to elect two new members to the Supervisory Board.

Gerhard Eschelbeck, head of IT security at U.S. technology group Google is to succeed Peter Loescher, and Alexander Schuetz is to replace Klaus Ruediger Truetzschler.

Deutsche Bank also said Norbert Winkeljohann would stand for election at the 2018 Annual General Meeting. Winkeljohann is chairman of the management board of advisory and accounting firm PricewaterhouseCoopers in Germany, and will replace Henning Kagermann, who will not stand for re-election, Deutsche said. (Reporting by Edward Taylor; editing by Susan Thomas)

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