Deutsche Bank Plans Board Shifts as Chiefs’ Future Is Questioned
- Thain is among nominees expected to fill positions this year
- German lender is struggling despite multiple strategy resets
John Thain Expected to Join Deutsche Bank Board in May
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Deutsche Bank AG is preparing to reshuffle its supervisory board as the future of Chief Executive Officer John Cryan and Chairman Paul Achleitner is called into question.
John Thain, a former CEO of Merrill Lynch, is expected to join the troubled German bank in May, according to a person with knowledge of the lender’s plans. He is one of four nominees invited by the supervisory board, which is led by Achleitner, to fill positions coming open this year, said the person, who asked not to be identified because the matter isn’t public.