Deutsche Executive Will Resign If Found Guilty

Law360 (February 2, 2006, 12:00 AM EST) -- Reversing an earlier pledge to stay on no matter what, Deutsche Bank's powerful and controversial chief executive vowed Thursday to resign if he is found guilty in the long-running Mannesmann case over illegal bonus payments.

CEO Josef Ackermann made the comment in a television interview on the same day that Deutsche Bank, the biggest bank in Germany, announced a year-end completion deadline for its vast restructuring program.

Previously, Ackermann had insisted that he would not step down from his position, saying: “I'm being encouraged on many...
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