Media Release
Frankfurt am Main, March 25, 2022
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The Supervisory Board of Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) recommends that the bank’s shareholders elect Yngve Slyngstad (59) to the Supervisory Board at the Annual General Meeting (AGM) on May 19, 2022. Slyngstad would succeed Gerhard Eschelbeck, who will not stand for re-election when his five-year term ends at this year’s AGM.
Slyngstad was CEO of Norges Bank Investment Management (NBIM), the entity managing the world´s largest sovereign wealth fund in Norway, for 13 years. Prior to that he led the fund’s equity management organisation since its establishment in 1998. Earlier this month he joined Aker ASA, a Norwegian investment company, to oversee its newly created asset management division. The organization will be focused primarily on investments related to energy transition necessitated by climate change. Slyngstad holds degrees in economics, law, political sciences and philosophy from universities in Oslo and Paris, and the University of California.
“We very much look forward to Yngve Slyngstad joining the Supervisory Board,” said Mayree Clark, Chair of the Supervisory Board’s Nomination Committee. “We will benefit from his network in the global financial industry and his vast experience as one of the pioneers of sustainable investing, as well as his current focus on cutting edge matters related to climate change and energy transition.”
Paul Achleitner, Chairman of the Supervisory Board, added: “We are delighted to be able to nominate Yngve Slyngstad, in line with our longstanding approach to bring together highly capable individuals in a diverse Supervisory Board which brings expertise and judgement for the benefit of the bank.”
“I greatly appreciate the Supervisory Board’s nomination,” Slyngstad said. “Deutsche Bank plays a crucial role in the development of Europe’s financial industry and will play an important role in the financing of the transition to a sustainable and carbon-neutral economy. Subject to the vote at the AGM, I would be delighted to contribute to the further development of Deutsche Bank’s strategy.”
Achleitner thanked Gerhard Eschelbeck, Chief Information Security Officer at Aurora Innovation, Inc., who joined Deutsche Bank’s Supervisory Board in 2017: “Gerhard Eschelbeck has been a highly esteemed member of our Supervisory Board and made important contributions, in particular with his experience and expertise in technology. We thank him for his excellent work and wish him well in his new endeavours.”
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement.
Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission.
Such factors are described in detail in our SEC Form 20-F of 11 March 2022 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir
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