Deutsche Post accepts Zumwinkel’s resignation, appoints Appel as CEO
The supervisory board of Deutsche Post AG, whose major subsidiaries include DHL, the German Post Office, and Deutsche Postbank, Monday accepted Klaus Zumwinkel’s resignation as chief executive officer.
|
Zumwinkel |
Zumwinkel offered his resignation on Friday in the midst of a tax fraud investigation that is reportedly looking at the transfer of funds by wealthy individuals in Germany to foundations in the tax haven of Liechtenstein.
“The supervisory board expresses its thanks to Klaus Zumwinkel for the successful entrepreneurial leadership in the past 18 years and for his outstanding achievements in creating the world's leading logistics group,” the company said in a statement.
|
|
Appel |
During a meeting in Bonn, the supervisory board unanimously appointed Frank Appel as Zumwinkel’s replacement, with immediate effect. Appel has been a member of Deutsche Post’s management board since 2002 and was most recently in charge of the logistics corporate division, international mail, regulation management, as well as the cross-divisional responsibility for the group's 100 largest customers. His contract as CEO runs until Oct. 31, 2012.
|
|
Allen |
At the same time, the supervisory board agreed to extend the contract of Chief Financial Officer John Allan by two years until the end of 2010.