Exploratory process on Postbank becomes increasingly concrete06/25/2008, 07:00 PM CEST
Bonn: Deutsche Post World Net announced today that it has entered a more intensive phase of the exploratory process concerning the future of its Postbank subsidiary. The logistics company is currently evaluating options for an optimal competitive position to secure a successful future for Postbank. To this end, discussions between Deutsche Post and potential partners are moving forward quickly and efficiently. No preliminary decision regarding the various potential options has yet been taken.
Against this background, the Supervisory Board of Deutsche Post AG has accepted the request of Postbank Chief Executive Officer Wolfgang Klein to temporarily step down from the Management Board of Deutsche Post with immediate effect. Klein's position as CEO of Deutsche Postbank AG remains unaffected.
Wolfgang Klein and Deutsche Post Chief Executive Officer Frank Appel have mutually come to the conclusion that the decision to step down from his position for the duration of the current phase complies with good corporate governance. When appointed as CEO of Postbank on July 1st 2007, Klein was simultaneously appointed to the Management Board of the parent company.
The Management Board of Postbank actively supports this open-ended process to secure an optimal solution for the successful strategic development of the company in the future, in the interests of its shareholders, employees and customers.