Radical restructuring within the Deutsche Bahn group
Only six-member Management Board – planned break up of the double stack holding structure – option for a third party holding only open to DB Arriva and DB Schenker Logistics
The Supervisory Board of Deutsche Bahn AG has approved comprehensive structural and personnel changes within the group. The supervisory body gave green light for a six-items package of measures presented by Dr. Rüdiger Grube CEO DB.
The Supervisory Board decided to reduce the Management Board of the group by a quarter from eight to six members, effective 1 August 2015. Hence the competencies will be reassigned. The growth platforms DB Arriva and DB Schenker Logistics will be headed by the financial resort, thus Richard Lutz CFO.
Another central issue of the realignment is the desired break up of the double stack holding structure. At the regular meeting of the Supervisory Board on 16 December this year, the Management Board will submit proposals for approval to the Supervisory Board, whether this will be done by way of merger or transfer of operations of DB ML AG to DB AG. Until this date, the Executive Board will also present concepts to the Supervisory Board, among others regarding the future of the internal services as well as retaining an option for a third party holding for DB Arriva and DB Schenker Logistics.
The measures now adopted represent savings of EUR 100 million at the group’s headquarters, so together with measures already adopted (EUR 610 million), by 2020 more than EUR 700 million can be saved at the headquarters. The headquarters will focus on functions with policy expertise. Dr. Karl-Friedrich Rausch, Ulrich Homburg, Gerd Becht and Dr. Heike Hanagarth put down their board mandate effective 31 July 2015 (ranked by the years of their board membership).
Dr. Alexander Hedderich, CEO of DB Schenker Rail AG, will resign from his position as of 31 August 2015 and leave the DB Group. Jochen Thewes will be appointed the new CEO of Schenker AG, previously CEO of DB Schenker APAC. He takes over the management of the DB Schenker Logistics business unit from 1 September 2015.
Source: oevz.com
