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Deutsche Bank co-CEO Fitschen contract to be extended -sources
September 11, 2013 / 8:59 AM / 4 years ago

Deutsche Bank co-CEO Fitschen contract to be extended -sources

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) co-Chief Executive Juergen Fitschen’s contract is set to be extended until 2017, two sources familiar with the plan said on Wednesday.

Juergen Fitschen, Co-CEO of Deutsche Bank AG speaks during a shareholders meeting in Frankfurt May 23, 2013. REUTERS/Ralph Orlowski

“That will nip in the bud any discussion over succession,” one of the sources told Reuters.

    A second source said that the supervisory board sub-committee responsible for executive staffing at Germany’s largest lender had agreed on the extension with the approval by the full supervisory board seen as a formality.

    Fitschen, 65, currently holds a contract that expires in 2015. He leads the bank together with co-Chief Anshu Jain.

    Deutsche Bank declined to comment.

    Reporting by Philipp Halstrick, writing by Jonathan Gould

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