Counter-motions at the general meeting of the DEUTSCHE BANK
ethecon - Foundation for Ethics & Economics raises 5 counterproposals
ethecon - Foundation Ethics & Economics has filed five counterproposals for discussion at the general meeting of the DEUTSCHE BANK on May 22, 2014. ethecon is acting in alliance with the Association of Critical Shareholders, Oxfam, urgewald, Facing Finance and Action Outcry/Pax Christi. The counterproposals are based on the International ethecon Black Planet Award 2013 presented last November. The International ethecon Black Planet Award 2013 denounces the CEOs Anshu Jain and Jürgen Fitschen and major shareholders for “ethical and moral abuse resulting in environmental destruction, war and exploitation”. It denounces their “indifference and ignorance” towards our Blue Planet with which they contribute “to the ruin and destruction of our Blue Planet, turning it into a Black Planet„, as stated in the ethecon dossier justifying the choice at the award ceremony.
ethecon presents its counterproposals to the agenda item 2 “Appropriation of retained earnings”, relating to item 3 and item4, concerning the exoneration of the members of the Executive Board and the Supervisory Board for the 2013 financial year, as well as item 8 and item 9, concerning the increase in variable compensation payments („bonuses“) for board members as well as staff and board members of subsidiaries. The reasons given demonstrate that the DEUTSCHE BANK is responsible for numerous crimes against humanity, ethics and ecology.
The counterproposal to item 2 calls for “a reduction in the dividend of 10 cents per share", since an elimination cannot be ordered. The funds so released are to be used to cover compensation to people in need.
These payments relate, for example, to war victims from World War II as well as current victims. The DEUTSCHE BANK financed to a significant extent the armaments industry. Its financial support goes so far as to promote uranium mining and co-finances cluster munitions despite a UN convention and its own statement opposing this. Members of the Board of Directors and the Supervisory Board are responsible for these decisions. Therefore ethecon and its allied organizations denied them exoneration for the 2013 financial year (items 3 and 4). Another reason is the resumption of food speculation. The management responsible for these decisions accept the considerable risk that these speculations may be one reason for the rise in hunger. With these decisions, the responsible executives are not engaging in socially and environmentally sustainable risk management.
Therefore no compensation system should be introduced that makes total compensation even more dependent on variable payments. The status quo is already unacceptable, as the presentation of the International ethecon Black Planet Award 2013 shows. Thus ethecon argues with its counter-proposals against the increase of the “bonuses” from 100-percent to 200-percent of the base salary (agenda item 8 and item 9).
With the counter-motions, the Alliance draws attention to the questionable and criminal business practices of the DEUTSCHE BANK. It shows that behind the promise of board members that they will act responsibly and the much-cited ”cultural change”, contradictory actions and decisions are still executed. The counterproposals place the double standards of the DEUTSCHE BANK into clear view and denounce them.
About the ethecon Foundation
ethecon - Foundation Ethics & Economics is an internationally oriented “grass roots” foundation based in Berlin, Germany. The founders and supporters members come from different countries and are or have been active nationally and internationally in social movements.
With ethecon the benefactors want to create a strong foundation that can be an effective (financial) support for social movements for justice, peace and ecology.
Only with the development and implementation of environmentally sound and decent economic and social models, can impending ecological and social disasters be averted. ethecon - Ethics & Economics Foundation --works with vision and perspective, far beyond the change of generations.
Established in 2004, ethecon is still a young foundation and is looking for other benefactors and supporting members.
Information at any time at the ethecon office or on the Internet at www.ethecon.org.
Dusseldorf, 07 May 2014
ethecon - Foundation Ethics & Economics
Phone 0049 211 26 11 210
Foundation Ethics & Economics
Schweidnitzer Str. 41
Fon 0049 211 26 11 210
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The threat of ecological and social desasters can only be averted by the development and the implementation of humane models for the economy and society. ethecon – Foundation Ethics & Economy work with a vision and with an outlook which goes beyond this generation.
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