Two stakeholders said that, should the CEO not be able to deliver by the annual shareholder meeting in May, an external candidate may be the best option to replace him.
Bloomberg News reports that CEO John Cryan is losing the support of some investors just seven months into Deutsche Bank’s latest turnaround plan.
Three of the 10 largest stakeholders in the bank, speaking on condition of anonymity, said they want to see a turnaround in the next few quarters, particularly in the trading business, to continue to back the 56-year-old Briton.
Two said that, should Cryan not be able to deliver by the annual shareholder meeting in May, an external candidate may be the best option to replace him.
Cryan hasn’t delivered on his March pledge to resurrect growth at Europe’s largest investment bank as soon as this year - revenue declined in all but two quarters since he took over in 2015 and has been falling in recent months. Still, he’s pleased some investors by settling legacy misconduct cases, reducing risk in the securities unit and raising fresh capital.
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