Shell wants Deutsche Bank chief on board

Oil company Shell said on Thursday that it intends to propose the head of Deutsche Bank, Josef Ackermann, as a non-executive director of the company with effect from May 21, one day after its annual general meeting.

The controversial Deutsche Bank chief will not be involved with the company’s daily operations, says ANP news service.
Ackermann was embroiled in a legal case following his role in the takeover of telecom firm Mannesmann by rival Vodafone in 2000, says ANP.
As a member of Mannesmann’s supervisory board, Akkermann approved €57m in bonuses for the firm’s management which was seen as a bribe, ANP says. He finally settled out of court in 2006.

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