Deutsche Bank's Ackermann To Join Investor AB's Board In June

Date : 03/14/2012 @ 7:45AM
Source : Dow Jones News
Stock : Nasdaq, Inc. (MM) (NDAQ)
Quote : 76.4  0.08 (0.10%) @ 1:53PM

Deutsche Bank's Ackermann To Join Investor AB's Board In June

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Deutsche Bank AG's (DBK.XE) outgoing chief executive Josef Ackermann has been proposed as a new member of the board of directors of Investor AB (INVE-B.SK), the Swedish industrial holding company said Wednesday.

"Dr. Josef Ackermann will assume his position as member of the board of directors on June 1, 2012," Investor AB said, adding "the intention is that Dr. Josef Ackermann later this year will assume a board/advisory position within EQT," a private equity company in which Investor AB holds a minority stake.

The announcement comes a day after Zurich Financial Services AG (ZURN.VX) appointed Ackermann as its new chairman.

Ackermann, who is stepping down as Deutsche Bank's chief executive in May, is also second deputy chairman of the supervisory board of Siemens AG (SIE.XE) and a non-executive member of the board of directors of Royal Dutch Shell PLC (RDSA).

Investor AB, which was founded 1916 by Sweden's Wallenberg family, has stakes in Swedish communications company Ericsson (ERIC), truck maker Scania AB (SCV-A.SK) and U.S. stock exchange NASDAQ (NDAQ) among others.

-By Eyk Henning, Dow Jones Newswires; +49 69 29725 108; eyk.henning@dowjones.com

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