Reuters leads on Deutsche’s Ackermann staying on

Reuters was hours ahead on April 27 with news that Deutsche Bank had unexpectedly extended the contract of its chief executive Josef Ackermann by three years. Reuters reported late in the afternoon that Deutsche Bank’s supervisory board was pushing to resolve a deadlock over Ackermann’s succession plans and that one option being discussed was to keep on Ackermann as CEO — even though the man himself has said several times he wanted to quit when his contract expires in 2010. The news helped Deutsche Bank’s shares to extend their gains late in the session, and forced Deutsche Bank to issue a statement two and a half hours later in which it confirmed Ackermann’s contract extension until 2013. The Reuters scoop was widely quoted in major newspapers and websites across the country and prompted praise from senior executives at Deutsche Bank.