Deutsche Bahn extends CEO Mehdorn’s contract

Deutsche Bahn extends CEO Mehdorn’s contract The supervisory board of Deutsche Bahn AG, owners of Schenker and BAX Global, last week extended the employment contract of Hartmut Mehdorn, chairman of the management board and chief executive officer, for another three years through to May 2011.

Mehdorn

   The German state-owned rail and logistics giant is preparing for a long-awaited partial privatization, and recently agreed to sell its share in Baltic Sea roll-on/roll-off operator Scandlines. It also has plans to buy the entire shareholding of English Welsh & Scottish Railway Holding Ltd. (EWS) and acquire a majority share in Spanish company Transfesa.
   Mehdorn said the company’s fortunes are looking good for the year, but admitted he is “a bit worried” by the threat of trade union strikes in Germany affecting rail operations.
   “We are coming on very well,” Mehdorn said. “We will certainly succeed in reaching our targets for this year, provided that no exceptional negative circumstances arise.”