Deutsche Bank names Christian Sewing new CEO, John Cryan leaving
The Supervisory Board of Deutsche Bank last night appointed Christian Sewing as Chief Executive Officer with immediate effect. He succeeds John Cryan who will leave the bank at the end of this month. Additionally, the Supervisory Board has appointed Management Board members Garth Ritchie and Karl von Rohr as new Presidents. Sewing has been a member of the Management Board since January 1, 2015. He was appointed as President in March 2017. Most recently he was responsible for Deutsche Bank's Private & Commercial Bank. Paul Achleitner, Chairman of the Supervisory Board, said, "Despite his relatively short tenure as CEO, John Cryan has played a critical role in the almost 150 year history of Deutsche Bank - and laid the groundwork for a successful future of the bank. The Supervisory Board in general and I personally are grateful for this. However, following a comprehensive analysis we came to the conclusion that we need a new execution dynamic in the leadership of our bank."