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UPDATE 1-Ackermann likely to step down from Siemens board-source
September 11, 2013 / 5:23 PM / 4 years ago

UPDATE 1-Ackermann likely to step down from Siemens board-source

* Ackermann is second deputy chairman at Siemens

* Ackermann may surrender post - source

* Move follows resignation from chairman position at Zurich

FRANKFURT, Sept 11 (Reuters) - Josef Ackermann, the former chief executive of Deutsche Bank, will likely step down from his position as second deputy chairman at Siemens , a source familiar with the plan said on Wednesday.

The move comes two weeks after the Swiss executive resigned as chairman of Zurich Insurance following the suicide of the chief financial officer, and marks a dramatic turn in the once stellar career of the 65-year-old who until last year who was one of Europe’s most powerful bankers.

Both Siemens and Ackermann’s spokesman declined to comment on Wednesday.

In June Ackermann clashed with fellow Siemens directors during a tussle over whether to oust Chief Executive Peter Loescher.

When supervisory board chairman Gerhard Cromme pushed for Loescher to be removed immediately, Ackermann was among the few executives on the board to dissent, saying, “Gerhard, you can’t do it this way.”

Ackermann is also a member of the nomination and succession committee at Royal Dutch Shell where he is a non-executive director, and a director at Investor AB , an investment company founded by Sweden’s Wallenberg family.

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