Deutsche Bank appoints retiring VW CFO to board

Deutsche Bank has nominated Frank Witter, Group Chief Financial Officer at Volkswagen AG to its supervisory board, according to a release by the company. At the Annual General Meeting on May 27, 2021, Deutsche Bank’s Supervisory Board will submit a proposal for the election of Witter as the successor to Gerd Alexander Schütz, Chairman of the Management Board of C-Quadrat Investment AG, who informed Deutsche Bank that he will resign from his mandate on the Supervisory Board at the 2021 Annual General Meeting. 

“We are delighted to be able to nominate Frank Witter…for election to the Supervisory Board,” said Supervisory Board Chairman Paul Achleitner.  

Frank Witter was born in 1959 in Hanover. He is an economist who began his career as an apprentice in banking and has worked for Volkswagen since 1992. After holding several management positions in finance and treasury Witter became Chief Executive Officer of Volkswagen Financial Services AG, a VW subsidiary with its own banking license, in 2008.

He joined the Group Board of Management in 2015 and serves as Chief Financial Officer. Last year Witter announced he would retire from Volkswagen end of June 2021.