To the annoyance of important investors, the bank has restricted the opportunity for shareholders to ask questions at the general meeting. The re-election of the deputy head of the supervisory board is also controversial.
(Photo: dpa)
Frankfurt Two years ago, Deutsche Bank played a pioneering role with its virtual general meeting (AGM) from the point of view of large investor representatives. But in the run-up to this year’s virtual shareholder meeting, there was criticism. From the point of view of large shareholders, the institute is restricting the possibilities for shareholders to ask questions too much compared to previous years. There is also resistance to the election of Vice Chairman Norbert Winkeljohann.
According to Vanda Rothacker, corporate governance expert at the cooperative fund company Union Investment, Deutsche Bank distances itself from its shareholders due to the limited opportunity to ask questions. “We don’t want a distance general meeting,” she tells the Handelsblatt.
The background to their criticism is the institute’s decision to answer the shareholders’ questions in advance in writing before the virtual general meeting on May 17 – and to only ask questions about the answers at the general meeting itself. The only exception are questions about new developments immediately before the general meeting.
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