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Deutsche Bank board to discuss extending co-CEO Fitschen's term - sources

FRANKFURT (Reuters) - Deutsche Bank's (GER:DBK) supervisory board is to discuss the option of extending co-Chief Executive Juergen Fitschen's term of office, two people familiar with the matter said on Wednesday.

"The idea is to settle the matter early to avoid a painful succession debate," one of the people told Reuters.

"It's being raised now already," the second source said.

There has been no decision yet regarding the extension, the two people said.

German daily Sueddeutsche Zeitung earlier cited supervisory board sources as saying the board would meet on Friday and Saturday to discuss a second term for Fitschen, whose current contract is due to expire in 2015.

Deutsche Bank declined comment.

(Reporting by Philipp Halstrick and Edward Taylor; Writing by Jonathan Gould; Editing by Mark Potter)