After months of speculation about his future on the Management Board of Deutsche Bank, Karl von Rohr, one of the two deputies of Deutsche Bank CEO Christian Sewing, is leaving the institute after more than a quarter of a century. He has informed the supervisory board that he will not seek an extension of his management board contract. The 57-year-old’s term of office will thus end on October 31, 2023.
For months, speculation has been swirling that the contract of the Deutsche Bank vice chairman might not be extended. Von Rohr’s position as Chairman of the Supervisory Board of the investment fund company DWS was a particular target. Deutsche Bank still holds a good 80% of the shares. And DWS is suspected of greenwashing, i.e., selling financial products as more sustainable than they were. The result of a corresponding investigation by BaFin is still pending.
Meanwhile, DWS announced on Monday evening that von Rohr would resign as chief supervisor of the fund company to coincide with his departure from the Deutsche Bank board. According to the ad hoc DWS announcement, however, Deutsche Bank had asked him to run for a full term as a supervisory board member at the DWS annual general meeting scheduled for June 15.
In an internal email to employees, von Rohr said: “My years on the Board and, since 2018, as its Vice Chairman has enabled me to make an important contribution, together with all of you, to the ‘turnaround’ of this institution, which is so important for our country. I could not have wished for a better conclusion to my wonderful 26 years at Deutsche Bank.”
