JANUARY 29, 2002
New management planned for Arrows majority shareholder
DEUTSCHE BANK may not get much say in what is happening at the Arrows F1 team but the huge German bank, which owns 55% of the shares in the team, is about to have its management structure revamped and the new bosses may not be as patient as the current ones.
Deutsche Bank inherited the Arrow shares from its subsidiary Morgan Grenfell Private Equity when the investment company was folded into the main company after a series of poor investments. Deutsche Bank chief executive Rolf Breuer is due to be replaced in May and there are already plans afoot for the bank to introduce a much more efficient management structure to speed up its decision-making processes. The new boss will be investment banker Josef Ackermann.
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