To the next general meeting. He wants to dedicate his free time to “other obligations”.
Alexander Schütz, founder of C-Square
What has been speculated about for a long time is now fixed: Alexander Schütz will resign from his position as a member of the Supervisory Board at Deutsche Bank AG at the end of this year's Annual General Meeting, as he was informed via broadcast.
“I have decided to leave the Supervisory Board of Deutsche Bank for the next Annual General Meeting. I had a lot of fun actively accompanying the turnaround of Deutsche Bank and realigning the management team,” the statement said. “At the same time, I am pleased to be able to dedicate the time gained by my resignation to other obligations such as my work on the board of directors of Cyan Security AG, which I have been leading since January 2021.”
Mail traffic caused criticism
The Upper Austrian investor and fund manager has already sold his shares in Deutsche Bank. As the KURIER reported in January, he apparently did not want to vacate the supervisory board job endowed with 15,000 euros entirely voluntarily.
In Germany, the C-Quadrat founder and co-owner was under heavy criticism after an email communication between him and ex-Wirecard boss Markus Braun appeared in 2019, in which Schütz reported on the purchase of Wirecard shares and advised him to to finish the “FT” (meaning the Financial Times ), which at that time had already reported irregularities at Wirecard. In June 2020, the German payment service provider filed for bankruptcy.
Geldhaus had distanced itself
The email became known during a questioning of Deutsche Bank boss Christian Sewing in the parliamentary committee of inquiry in the German Bundestag in mid-January. Thereupon the money house had distanced itself from Schütz in unusually clear words. Both the content and the attitude of the quoted statement in the mail are “unacceptable”. A little later, Schütz resigned from the important positions on the Supervisory Board.
According to an insider, the bank's supervisory body will meet on Thursday when the 2020 annual report is due to be published on Friday. It cannot be ruled out that a successor for Schütz will then be named.
