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John Cryan, the outgoing CEO of Germany’s
Deutsche Bank, left, will be replaced by Christian Sewing, right
(REUTERS/Ralph Orlowski)
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Germany’s biggest lender, Deutsche Bank, has sacked its UK-born boss after years of heavy losses.
John Cryan, who was installed as chief executive just three years ago, paid the price for failing to turn around the bank.
“Following a comprehensive analysis we came to the conclusion that we need a new execution dynamic in the leadership of our bank,” Paul Achleitner, the chairman of the company’s supervisory board, said in the statement.
By Mark Norman.
Full story at Yahoo News.
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