Deutsche Bank Chairman Breuer Resigns; Boersig Will Replace
April 2 (Bloomberg) -- Deutsche Bank AG said Rolf Breuer resigned as chairman of Germany's biggest bank after the country's highest court said in January he was wrong to question the creditworthiness of Leo Kirch's media company in 2002.
Breuer will be replaced by Clemens Boersig, who is currently chief financial officer, Deutsche Bank said in a statement to the Frankfurt exchange's newswire. Anthony Di Iorio will take over from Boersig, the company said. Breuer's resignation will take effect on May 3.
Breuer is stepping down ``to relieve Deutsche Bank of further discussion regarding him personally following a decision by the German Supreme Court,'' said Deutsche Bank in a statement.
Judge Gerd Nobbe said at the Federal Court of Justice in Karlsruhe on Jan. 24 that Breuer ``broke a duty to not endanger the creditworthiness'' of a client when he publicly commented on the likelihood of banks lending money to Kirch's company just months before its collapse.
Deutsche Bank also said that Hugo Banziger will take over as chief risk officer.
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