BERLIN — Former Deutsche Bank chief Josef Ackermann said Thursday that he was stepping down from the board of Siemens AG after an argument over the appointment of a new chief executive officer at the German industrial conglomerate.
The announcement at an event in Berlin came less than a month after Ackermann resigned as chairman of Switzerland's Zurich Insurance Group days over the suicide of its finance chief.
The 65-year old Swiss cited a "discrepancy in questions of style and fairness" as the explanation for leaving the Siemens board after more than a decade. German media reported that Ackermann opposed the replacement of Siemens chief executive Peter Loescher, who quit after the company announced it would not meet its 2014 profit margin targets.
The Munich-based company declined immediate comment. Its board members are due to meet again next week.