FRANKFURT, Aug 25 (Reuters) - Deutsche Bank’s supervisory board will gather for an off-site strategy meeting in Bavaria on September 10 to hear new Chief Executive John Cryan’s strategy plans for Germany’s largest lender, two sources familiar with the matter said on Tuesday. Deutsche Bank declined to comment. Cryan, who took over as Co-CEO on July 1 and will become sole CEO in May, has been tasked with finalising a strategic overhaul to reduce complexity and take out costs, a feat which his predecessors Anshu Jain and Juergen Fitschen struggled to achieve. The supervisory board will also scrutinise Cryan’s ideas about senior appointments, particularly to the bank’s influential 19-member Group Executive Committee, the two sources said. “We want to hear what he is planning. We are entering the critical phase now,” one of the sources, who declined to be named, said. Cryan had revealed very little about his plans by the time of the last supervisory board meeting in New York at the end of July, the second source familiar with the matter said. “It’s about time for Cryan to show his hand,” the second source said. The off-site meeting takes place from September 10 to 12, at Golf Hotel Margarethenhof near Tegernsee, in Bavaria, the sources said. It’s not yet clear whether Deutsche Bank’s entire management board will attend the meeting, although the entire supervisory board will be present, the sources said. Paul Achleitner, who heads the supervisory board is also expected to present a replacement for Cryan on the supervisory board, the sources said. This new member is likely to take over Cryan’s prior role as chairman of the audit committee, one of the sources added. (Reporting by Kathrin Jones; Writing by Edward Taylor; Editing by Jonathan Gould)
Deutsche Bank 's advisory board are to have a meeting on September 10th in Bavaria to discuss new restructuring plans , as well as hear views from its new CEO Paul Smith , following many months of uncertainty for the bank . Mr Cryan will become the sole CEO in September and has been asked to finalise a strategic plan to reduce complexity and take out costs , which the bank 's previous joint CEO 's failed to do . One source said , " We want to hear what he is planning . We are entering the critical phase now " .