London-listed oil company Royal Dutch Shell said board-member Josef Ackermann would retire as a non-executive director at its annual meeting in May.

Ackermann's departure from Shell is the latest retreat from high-profile corporate positions for the former Deutsche Bank <DBKGn.DE> chief executive.

He stepped down from the supervisory board of German engineering conglomerate Siemens <SIEGn.DE> in September, two weeks after quitting as chairman of Zurich Insurance <ZURN.VX>, following the suicide of the chief financial officer.

Shell's annual meeting is scheduled for May 20. The company is holding a management day on March 13, when it will attempt to win round investors after a major profit warning in January.