Frank Siebelt and Tom Sims

FRANKFURT (Reuters). Deutsche Bank (ETR:) A new era starts on Thursday, as Chairman Paul Achleitner departs after a difficult decade that saw Germany’s largest lender lose billions of euros and see its share price fall.

Alexander Wynaendts (a former Dutch insurance executive) will succeed Achleitner if everything goes according to plan.

Wynaendts will serve a four year term as chair. He is also a former chief of Dutch insurer Aegon, (NYSE:). Aegon had staff across the globe and an extensive U.S. presence over a turbulent decade. This experience should help him at Deutsche.

Deutsche under Achleitner saw many top-management changes. Deutsche entered and exited merger talks (ETR:). Deutsche also received large fines for misconduct regulators believed could bring down the Frankfurt-based bank.

According to prepared remarks, Achleitner will share his thoughts with shareholders: “I look back now on eventful years during what was a challenging phase for our bank.”

He will conclude by saying, “I leave Deutsche Bank with deep conviction that all of us have set the path for success.”

Deutsche recently found calmer waters, following an overhaul in which it reduced its investment bank as well as cut costs. Thousands of people were laid off. Deutsche has now posted seven quarters consecutively of profit. This is the longest stretch in black history since 2012.

Despite efforts to strengthen safeguards, control issues continue to plague Wynaendts Bank, according to Reuters.

Andreas Thomae (a Deka portfolio manager who is also a major Deutsche investor) is expected to share his hopes that Wynaendts would steer the bank “through an somewhat calmer stage”.

Last month, federal and state police raided Deutsche’s Headquarters in an attempt to remind them of their past mistakes.

Deutsche stated at that time that the investigation was about suspicious transactions that it had already reported to authorities, and that it was fully cooperating.