DPWN chief Klaus Zumwinkel under tax evasion investigation
The home and office of Deutsche Post chief executive Klaus Zumwinkel were today raided by German officials investigating alleged tax evasion of some EUR 1 million. He was also taken for questioning but later released.
Tax authorities arrived at his home in Cologne at 7 a.m. and spent five hours there before taking him for questioning. Officials also searched his office at the DPWN headquarters.
A spokesman for the Bochum public prosecutor’s office said that Zumwinkel and other unnamed persons were under suspicion of tax evasion. The investigation focused on financial investments made by Zumwinkel in Liechtenstein, he said. The sum in question amounted to about EUR 1 million. An arrest warrant was not exercised since Zumwinkel had paid a bail sum of “not insignificant size”.
Deutsche Post said in a brief statement that Zumwinkel had responded in detail to the authorities regarding the allegations against him and had returned home. The entire management board, including the CEO, was “fully functional” and continuing its business as usual, it added.
Zumwinkel, 64, has been chairman and CEO of Deutsche Post since 1990, and has led its transformation from a domestic mail business into the world’s largest logistics group. His current contract is due to expire in November, and there has been media speculation that he will retire from the post at the end of the year. He is expected to take over the position of Deutsche Post supervisory board chairman.
