Wulf von Schimmelmann announces his resignation at Postbank and Deutsche Post

Wulf von Schimmelmann is exercising his contractual right to resign from his positions as Chairman of the Deutsche Postbank AG Management Board and as Management Board member at Deutsche Post AG as of June 30, 2007. The Executive Committees of Postbank and Deutsche Post deeply regret this move. They would like to express their thanks for the outstanding entrepreneurial contribution made by Schimmelmann in Postbank’s development as Germany’s leading retail bank and a successful DAX company.

The Executive Committees today resolved to propose Wolfgang Klein as the successor for both offices to the Supervisory Boards. To date, he has been the Postbank Board Member in the private customer segment responsible for products and mobile sales.

The Deutsche Post Supervisory Board meets on Tuesday, March 13, the Postbank Supervisory Board on Friday, March 16.

Under von Schimmelmann’s aegis, since 1999, Postbank has grown to become the largest retail bank in Germany with almost 15 million customers, has established a successful transaction banking arm, acquired DSL Bank and the BHW Group, integrated 850 Deutsche Post branches and has been listed in the DAX since 2006. Since its IPO in 2004, the price of Postbank shares has more than doubled.

The successful strategy of Postbank within Deutsche Post World Net will continue under the new management.

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