Deutsche chair to talk with board over CEO

The possible replacement of Deutsche Bank CEO John Cryan could be discussed on a supervisory board call scheduled this evening by Chairman Paul Achleitner, two people familiar with the matter said.

Achleitner has invited the supervisory board to an “Update Call”, the sources said yesterday on condition of anonymity.

The possibility of a major announcement could not be ruled out, they said.

One of the sources said that an external candidate to succeed Cryan was more likely than an internal candidate.

German newspaper Handelsblatt first reported news of the call. A spokesman for Deutsche Bank declined to comment.

The unscheduled board teleconference comes after two weeks of turmoil over the bank’s leadership.

Achleitner has initiated a search to replace Cryan, two people familiar with the matter said on March 27.

This follows a flurry of negative headlines after the bank reported a third consecutive annual loss. ■