October 29, 2013 / 10:16 AM / in 4 years

Deutsche Bank extends CEO contract of Juergen Fitschen to 2017

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) said it had extended Juergen Fitschen’s contract by two years, maintaining the co-Chief Executive leadership model at least until 2017.

Juergen Fitschen, Co-CEO of Deutsche Bank AG speaks during a shareholders meeting in Frankfurt May 23, 2013. REUTERS/Ralph Orlowski

The proposal to extend Fitschen’s mandate was made in September and formally approved on Tuesday.

Fitschen’s existing contract had been due to expire after Deutsche’s annual general meeting in May 2015.

In a statement Paul Achleitner, Chairman of the Supervisory Board of Deutsche Bank, said, ”Since becoming Co-CEOs, Juergen and Anshu have made numerous important decisions that are positioning Deutsche Bank in the right direction.

“The Supervisory Board has therefore decided to support their request. We know our company is in good hands with them.”

Reporting by Edward Taylor; Editing by Harro ten Wolde

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