Frank Appel to replace Klaus Zumwinkel at Deutsche Post in 2008
Klaus Zumwinkel, CEO of German postal services group Deutsche Post AG, is likely to be replaced by Frank Appel, after Zumwinkel’s contract expires at the end of 2008, German daily Handelsblatt reported on May 8, 2007.
Frank Appel, who is currently responsible for the Global Corporate Services division, will also take over mail services outside Germany, Zumwinkel said at the company’s general shareholders’ meeting. Appel has worked closely together with Deutsche Post’s top management for almost seven years, and is expected to boost further the change in the regulatory and political fields, Zumwinkel added.
A spokesperson of Deutsche Post did not comment on speculations that Appel’s responsibilities would be extended further.
Appel, who used to be in charge of the important logistics division, will engage in political talks about the future of Deutsche Post’s mail services monopoly, which, according to current plans of the German government, has to be revoked at the end of 2007. The Social Democratic Party of Germany (SPD) has raised objections against the planned reform.
Juergen Gerdes, 42, will be in charge of mail services in Germany, Zumwinkel said. The mail communication services division has so far been managed by Hans-Dieter Petram, 64, who will retire as of June 30, 2007.
Deutsche Post’s mail business is expected to generate earnings before interest and tax (EBIT) of around 2.0 bln euro (USD 2.715 bln) in 2007. Consolidated EBIT is seen to come in at at least 3.6 bln euro (USD 4.886 bln). In 2006, EBIT stood at 3.9 bln euro (USD 5.293 bln). Combined EBIT is projected to exceed 5.0 bln euro (USD 6.787 bln) by 2009.
It remains unclear when Deutsche Post will lose its monopoly over letters weighing up to 50 grams in Germany. Vice Chancellor Franz Muentefering and the Minister of Finance, Peer Steinbrueck, have set as target date January 1, 2008. While debates in the German parliament are still going on, Zumwinkel has again raised demands for liberalisation of EU accords. According to the EU plans, the remaining monopolies in EU member states must be revoked in 2009.
