Deutsche Bank Chairman Achleitner Says Cryan Was Too Slow to Execute
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Deutsche Bank AG supervisory board chairman Paul Achleitner said John Cryan had to leave as chief executive officer because the executive board was too slow in its decision-making, according to an interview with Frankfurter Allgemeine Zeitung.
The speed of board decision-making and implementation was “hindered” during the Briton’s tenure, Achleitner told the newspaper. He also pointed to the bank’s share price, which last week sunk to below 11 euros compared with about 17 euros a year ago when the bank announced its capital raising plans. The bank late Sunday said Christian Sewing will take over from Cryan as CEO.