REPORT: ‘Dysfunctional’ Deutsche Bank is preparing to oust CEO John Cryan

REUTERS/Kai Pfaffenbach

• Deutsche Bank COO Kim Hammonds told a conference that the bank is the “most dysfunctional” company she has ever worked for.
• Hammonds made the comments at an internal managerial conference.
• Her comments come as it is reported that chairman, Paul Achleitner is preparing to oust CEO John Cryan after a clash over strategy.

A top Deutsche Bank executive has described the bank as “most dysfunctional” company she has ever worked for, amid rumours that chairman Paul Achleitner is preparing to oust CEO John Cryan.

According to a German language report from the Frankfurter Allgemeine Zeitung, Deutsche’s COO Kim Hammonds — who was previously global chief information officer at Boeing, and has held senior positions at both Ford and Dell — made the comments at a management conference in Germany.

See the rest of the story at Business Insider

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