Financial Services Industry
Industry: Email Alert RSS FeedTime for a chief exec at Deutsche Bank.
Financial News, November, 2001
Byline: Peter Wilson-Smith Editor-in-chief
It is time for Deutsche Bank to sort out its boardroom. The first thing it should do is to change its old-fashioned management board structure and make Josef Ackermann chief executive when he takes over next year.
Although the concept of a chief executive does not exist under Germany company law, many of the top German industrial companies have already moved in that direction. Legally, the members of the management board are still all jointly responsible for running the company.
But there is no question of who is in charge at DaimlerChrysler, where Jurgen Schrempp carries the titles of chairman and chief executive officer. At Allianz, the giant insurance company, Henning Schulte-Noelle is chairman...
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