Tag: Deutsche Post

Deutsche Post plans to cooperate with FedEx in US express operations

Posted by | Feb 19, 2008 | |

Deutsche Post World Net AG is planning to cooperate with FedEx Corp in its loss-making US express operations after the appointment of Frank Appel as chief executive, Financial Times Deutschland reported without naming its sources.

Deutsche Post has posted unspecified losses since it entered the US express market in 2004. Financial Times Deutschland said the losses could amount to 7 bln eur.

Frank Appel was appointed Deutsche Post CEO after predecessor Klaus Zumwinkel resigned over a 1 mln eur tax fraud charge.

Financial Times Deutschland said the intended cooperation with FedEx is part of Appel and chief financial officer John Allan’s plans to restructure the German mail services company. They are also looking for a bank to merge with Deutsche Post’s Deutsche Postbank AG banking unit.

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Deutsche Post appoints Frank Appel as new CEO with immediate effect

Posted by | Feb 18, 2008 | |

Deutsche Post World Net AG said it has appointed management board member Frank Appel as its new chief executive with immediate effect.

Appel has been a member of the management board since 2002, and is currently in charge of the group’s international mail and logistics division.

He succeeds Klaus Zumwinkel, who offered to resign on Friday after his private house and offices were raided on a 1 mln eur tax fraud charge.

Deutsche Post said its supervisory board accepted Zumwinkel’s decision and thanked him for his achievements as CEO in the past 18 years.

In addition, chief financial officer John Allan’s contract was extended by two years until the end of 2010.

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Statement of the Supervisory Board of Deutsche Post AG

Posted by | Feb 18, 2008 | |

At its meeting in Bonn today, the Supervisory Board of Deutsche Post AG accepted the decision of Klaus Zumwinkel (64) to resign from his office as Chief Executive Officer of Deutsche Post AG.

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 Supervisory Board unanimously appointed Frank Appel (46) as Chief Executive Officer of Deutsche Post AG, taking effect immediately. His contract runs until October 31, 2012.

Appel has been a member of the Board of Management since 2002 and is in charge of the Corporate Division LOGISTICS, for MAIL International, for regulation management as well as the cross-divisional responsibility for the Group’s 100 largest customers (Global Customer Solutions).

The Supervisory Board also agreed to extend the contract of Chief Financial Officer John Allan (59) by two years until the end of 2010.

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Deutsche Post chief to quit amid tax-dodge probe

Posted by | Feb 15, 2008 | |

Klaus Zumwinkel will resign as chief executive of German mail and logistics group Deutsche Post, the company said on Friday, as a tax-dodging probe threatened to ensnare more rich Germans.

The 64-year-old, a pillar of Germany’s corporate establishment who has led Deutsche Post for 18 years, came under pressure to go after prosecutors said they suspected him of dodging about 1 million euros (USD 1.5 million) in taxes by transferring money to tax haven Liechtenstein.

“In the interest of the company he will resign” on Monday, Deutsche Post said in a brief statement on its Web site. “The executive committee respects this decision and proposes to the supervisory board to accept.”

Finance Minister Peer Steinbrueck told reporters Zumwinkel had admitted evading taxes. A spokesman for his ministry told a news conference that any others who thought they could be implicated in the probe should consider turning themselves in.

German Chancellor Angela Merkel said his departure from Deutsche Post was unavoidable, while Steinbrueck said the probe had caused considerable “moral damage”. The state is Deutsche Post’s biggest shareholder with a 31 percent stake.
Zumwinkel could not be reached by Reuters for comment.

However, commenting on his plans to resign as Deutsche Post chief, he told newspaper Bild: “I wanted to usher in a new era, but with a different changeover than has happened now.”

Zumwinkel said he would work closely with the authorities, telling Bild: “I will take an
active role in clarifying the questions about my private finances.”
Hundreds more rich and prominent Germans faced a visit from police as part of the sweeping probe into offshore accounts.

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Deutsche Post: Statement of the Executive Committee of the Supervisory Board

Posted by | Feb 15, 2008 | |

The Executive Committee of the Supervisory Board of Deutsche Post AG today has discussed the investigation into private matters of Klaus Zumwinkel.

Klaus Zumwinkel has informed the committee that in the interest of the company he will resign from his offices as Chairman of the Board of Management of Deutsche Post AG and Chairman of the Supervisory Board of Deutsche Postbank AG at the next meeting of the Supervisory Board.

The Executive Committee respects this decision and proposes to the Supervisory Board to accept the decision in the near future.

The Executive Committee 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.

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