It is good that shareholder activists are beginning to make noise in Germany, a country where shareholders are consider the junior stakeholder. However, it is not great to hear a shareholder activist base his criticism of the critics of Deutsche Bank and of Josef Ackerman, its Chief Executive, by using the argument that it is good for Germany to have a major German bank as a national champion. This is the French strategy and has nothing to do with good corporate governance and everything to do with economic nationalism.
It is a shame to see that Mr. Stefan Engelsberger has succumb to base nationalism!
Onésimo Alvarez-Moro
See article:
One of Germany's highest profile investor rights activists has gone on the offensive against critics of Deutsche Bank and Josef Ackerman, its embattled chief executive.
Stefan Englesberger, a Bavarian entrepreneur who rose to prominence two years ago co-ordinating Argentinian bondholders, has set up an internet-based shareholder campaign, www.prodeutschebank.de, to defend Deutsche from onslaught to its domestic reputation.
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