Ackermann to resign from Siemens board

Josef Ackermann

Josef Ackermann, the former Deutsche Bank CEO, is planning to step down as deputy chairman of Siemens AG’s supervisory board, according to a person familiar with the matter.

Bloomberg News reports that the executive last month gave up the chairmanship of Zurich Insurance Group AG, following his naming in the suicide note of the Swiss company’s Chief Financial Officer Pierre Wauthier.

Ackermann’s resignation from the Siemens supervisory board is prompted by disagreements over the ousting of former CEO Peter Loescher, and not connected to Zurich Insurance, the person said, asking not to be identified as the matter is not public.

Ackermann may step down from his Siemens position at a supervisory board meeting on September 18, Frankfurter Allgemeine Zeitung said yesterday, citing unidentified people.

A Siemens representative declined to comment, while a spokesman for Ackermann didn’t respond to an e-mail and calls seeking comment.

As CEO of Deutsche Bank, Ackermann helped transform a German-focused institution into Europe’s largest investment bank, steering the company through the global financial turmoil of 2008 and ensuing euro-region fiscal crisis.

In May 2012, he ended his 10-year career at the helm of Deutsche Bank.

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Ackermann Said to Plan Resignation From Siemens Board

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