Woehrmann will step down from his post after the Annual General Meeting to be held on June 9. The outgoing CEO says in a statement that DWS remains profitable and stable despite difficult market conditions.
“At the same time, the accusations leveled against me and DWS have become a burden on the company, as well as on my family and myself,” said Woehrmann.
According to the Frankfurt Public Prosecutor’s Office, about 50 investigators took part in the raid on DWS and Deutsche bank, which took place on Tuesday.
The background to the suspicions that led to the house search is that a former head of sustainability accused DWS of engaging in “greenwashing” by exaggerating the environmental and climate ratings for parts of the fund’s offer.
Deutsche Bank stated yesterday that it “cooperates fully with all the authorities involved”.