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Ackermann steps down from Siemens board

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Ackermann steps down from Siemens board
Josef Ackermann. Photo:World Economic Forum
15:46 CEST+02:00
Two weeks after quitting as chairman of Zurich Insurance, Swiss executive Josef Ackermann said on Thursday that he is stepping down from his position on the board of Siemens, the German electronics giant.

Ackermann disclosed that he was leaving Siemens’ non-executive supervisory board over differences with the company’s chairman Gerhard Cromme about the removal of CEO Peter Löscher following disappointing financial results.

According to reports, Ackermann disagreed with Löscher’s dismissal, believing it was unfair.

Ackermann, the former CEO of Deutsche Bank, stepped down as Zurich Insurance chairman following the suicide of the insurer’s chief financial officer Pierre Wauthier.

Wauthier left a suicide note in which he reportedly referred to pressure from Ackermann.

On Thursday in Berlin, Wauthier repeated an earlier statement rejecting any responsibility for Wauthier’s death.

His decision to quit Siemens was unconnected with what happened at Zurich Insurance but was due to a “discrepancy in style and fairness,” he said, according to an online report from the Wall Street Journal.

Ackermann made the comments at a launch for a book about his time at Deutsche Bank.

The book was written by a long-time aide, Stefan Baron, a German business journalist.

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