FRANKFURT (Reuters) - Deutsche Bank’s (DBKGn.DE) supervisory board intends to “take a decision” on Sunday after discussing John Cryan’s job at the helm of the bank, the German lender said late on Saturday.
In a brief statement, the bank confirmed earlier reports that Chairman Paul Achleitner had invited the supervisory board to an “update call”. Two people familiar with the matter told Reuters that a replacement for Cryan could be discussed at the meeting.
“Deutsche Bank’s Supervisory Board will have a discussion on the bank’s CEO position on Sunday evening,” the bank said. “It is planned to take a decision in this context on the same day.”
A representative for the bank was not immediately available to elaborate, but the two sources said earlier on Saturday that they could not rule out the possibility of a major announcement.
An external candidate to succeed Cryan was more likely than an internal candidate, one of the sources said.
Achleitner will act quickly to resolve the situation, said a third person who is a major investor in the bank, also speaking on condition of anonymity.
The Sunday discussion by the board follows two weeks of turmoil over the bank’s leadership.
Achleitner had initiated a search to replace Cryan, two people familiar with the matter told Reuters on March 27, following a flurry of negative headlines after the bank reported a third consecutive annual loss.
Cryan, who has been in office less than three years, responded by writing a memo to staff in which he said