Daily Management Review

Qatari Investors Demand Deutsche Bank’s Chairman’s Resignation


Without the Qatari investors’ representative in Deutsche Bank’s board, they will not want to have Achleitner in the chairman’s post.

The failure of Deutsche Bank’s chairman to place the lender’s Qatari investors’ representatives in its board didn’t go well with the latter as they have demanded for the former to quit.
Paul Achleitner couldn’t place Juerg Zeltner, Swiss banker, in Deutsche Bank’s “supervisory board” which triggered unhappiness amid Qataris while the lender witnessed “prolonged stock slump”, reported sources that include “top shareholders, bankers and others”. The “Paramount Services Holdings and Supreme Universal Holdings”, together own ten percent share of the German lender, which makes them the “largest shareholder” of the bank while both of them are under the control of “Al-Thani ruling family” of Qatar.
One said Achleitner needs to “leave in the coming months” and the other demanded his exit by “next year’s annual general meeting in May”, while Achleitner told colleagues that he is “looking for a successor”, although his original term with Deutsche Bank is upto 2022.
Achleitner and Deutsche Bank both have refused to give any comments on the matter. Similarly, Michele Faissola, chief executive of Dilmon, “a family office which looks after the Deutsche Bank investments held by members of the Al-Thani ruling family”, also said no to any comments.
Reuters, however, received the information on the unrest between “Achleitner and the Qataris” from ten individuals who chose to remain anonymous. This development comes as a “deep frustration” while Deutsche Bank witnessed a seventy percent drop in its share price since 2012.

Science & Technology

WEF: Big data regulation becomes a problem

Israeli Firm Accused Of Spying By WhatsApp, Lawsuit Filed Against It

Google Used Quantum Computer To Solve Complex Problem

Mars Had Earth-like Salt Lakes

Study: AI is not as profitable as you might think

Porsche, Boeing set to develop flying electric car

Samsung to invest $ 11 billion in new generation displays

US is betting on Nokia and Ericsson to replace Huawei

UPS becomes first to receive full regulatory approval for UAV shipping in USA

NASA orders Lockheed Martin to build spacecraft to fly to the Moon

World Politics

World & Politics

Vale hiding information about problems at Brazilian dams could result in death of 270 people

US Lawmakers Introduce Bill About Xinjiang Uygur Camps In China

European Council agrees to extend Brexit again

Pressure From China Forces Maserati To Dissociate From Film Awards Event In Taiwan

China to replace Hong Kong's Carrie Lam

Iran warns of new reduction in nuclear deal liabilities

Dominican Republic lost $ 200 million because of scandal with tourists death

France: We will take measures to protect our military in Syria