Deutsche Lufthansa AG announced the surprise departure of Chief Executive Officer Christoph Franz, who will become chairman at Swiss drugmaker Roche Holding AG, leaving the German airline in limbo as it works on a turnaround.
The decision by Deutsche Lufthansa AG’s supervisory board to back Wolfgang Mayrhuber’s aspirations to become chairman against investor opposition shows the hurdles in dismantling the chief executive-to-chairman German model.
Deutsche Lufthansa AG’s supervisory board named Wolfgang Mayrhuber its new chairman, following two days of toing and froing on his nomination after investors had criticized the former chief executive officer’s candidacy.
Deutsche Lufthansa AG was forced into an ad-hoc search for a new candidate to head its supervisory board after former Chief Executive Officer Wolfgang Mayrhuber surprisingly pulled out one day before he was due to be elected.
Deutsche Lufthansa AG, Europe’s second-biggest airline, will combine short-haul operations outside its main Frankfurt and Munich hubs with the Germanwings low-cost unit as part of a cost-reduction effort.
Infineon Technologies AG named a new supervisory board chairman and chief financial officer in a move that may help to end internal quarrels at Europe’s second- biggest chip maker and assuage rebel shareholders.
Deutsche Lufthansa AG , Europe’s second-largest carrier, named Christoph Franz to succeed Wolfgang Mayrhuber as chief executive officer and announced jet orders valued at 3.5 billion euros ($4.7 billion).
Deutsche Lufthansa AG Chief Executive Officer Wolfgang Mayrhuber may stay in office beyond the company’s next shareholder meeting in April 2011, Handelsblatt reported, citing unidentified company executives.
Deutsche Lufthansa AG , Europe’s second-largest airline, plans to propose Christoph Franz as successor to Chief Executive Officer Wolfgang Mayrhuber at a supervisory board meeting tomorrow, according to a person with direct knowledge of the matter.
Juergen Weber, chairman of Deutsche Lufthansa AG’s supervisory board, supports Wolfgang Mayrhuber, the airline’s former chief executive officer, as a candidate to succeed him next year, Boersen-Zeitung reported, citing an interview with Weber.