Deutsche Bank's DWS CEO Resigns - Read Why

• Deutsche Bank AG (NYSE:DB) asset management subsidiary DWS said its Chief Executive Officer Asoka Woehrmann is set to step down on June 9.
• The resignation has happened following a search by investigators amidst the controversy surrounding the executive and allegations that the company inflated its ESG credentials, Bloomberg reported.
• Woehrmann will be succeeded by Stefan Hoops, who will take responsibility for Asset Management at the Group level. In addition, Hoops will become CEO of DWS Group with effect from June 10, 2022.
• "The allegations made against DWS and me over the past months, including personal attacks and threats, however unfounded or undefendable, have left a mark,” the report cited Woehrmann's farewell message to staff.
• Price Action: DB shares traded lower by 0.27% at $11.15 in the premarket session on the last check Wednesday.
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