Josef Ackermann News
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The decision by Deutsche Lufthansa AG’s supervisory board to back Wolfgang Mayrhuber’s aspirations to become chairman against investor opposition shows the hurdles in dismantling the chief executive-to-chairman German model.
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Deutsche Lufthansa AG was forced into an ad-hoc search for a new candidate to head its supervisory board after former Chief Executive Officer Wolfgang Mayrhuber surprisingly pulled out one day before he was due to be elected.
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Most big-name financial firms pay lip service to diversity, peppering their websites with smiling women and people of color who are in short supply in the mostly white-male trading rooms and executive offices of real life.
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Simon Henry is the frontrunner among analysts to become the next chief executive officer of Royal Dutch Shell Plc after Peter Voser unexpectedly announced his resignation next year from Europe’s biggest oil company.
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Twelve days into his job as co- chief executive officer of Deutsche Bank AG, Anshu Jain stood beside Germany’s finance minister and in front of video images of lush forests and rolling rivers as hundreds of businessmen sang the national anthem.
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Swiss stocks climbed, following their second-biggest weekly gain this year, as Italy formed a new government and optimism grew that the European Central Bank will lower its interest rate this week.
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Josef Ackermann, the former chief executive officer of Deutsche Bank AG who now chairs Zurich Insurance Group AG, said allowing the euro to fail would be more costly than deepening the region’s fiscal and political ties.
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Deutsche Bank AG supervisory board chairman Paul Achleitner must improve corporate governance at Germany’s biggest bank to allow management to focus on boosting shareholder returns, investors said.
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For Josef Ackermann, head of Germany’s biggest bank, the World Economic Forum is a curtain call for the top power broker of an industry under attack.
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The leader of Europe’s biggest economy and the head of Germany’s largest bank, partners in a financial rescue two years ago, are rattling investors with their feud over how to manage the sovereign-debt crisis.
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