Deutsche Bank investor files motion to oust chair at shareholder meeting

Deutsche Bank investor Riebeck-Brauerei on Friday filed a motion seeking a vote to oust the lender's chairman Paul Achleitner at this year's annual general meeting, according to a document by the activist shareholder's lawyer.

The filing, by lawyer Jan Bayer, criticized the payment of billions of euros in bonuses despite record losses, millions in severance packages for former board members, and a failure to rein in money laundering issues.

Deutsche Bank, which holds its shareholder meeting on May 20, declined to comment.