Deutsche Post will unveil a new communications strategy for the international financial markets inNovember following the appointment of logistics chief John Allan as CFO. The group will try to
become more transparent and may announce new financial measures, but does not appear to bepreparing for any major strategy changes.The departure of long-serving CFO Edgar Ernst follows recent criticism by investors andanalysts, although speculation about a possible change of CFO was previously denied by DWPN. Theannouncement was largely welcomed on financial markets, according to German and internationalmedia.
Ernst had come under substantial criticism for failing to communicate the company’s strategyto financial markets sufficiently, for intransparent reporting of divisional results and therefusal to disclose regional results, in particular in the USA. Officially, the 55-year-old isstepping down on September 30 to focus on an academic career.
Allan, currently head of Logistics (DHL Exel Supply Chain, DHL Global Forwarding), will takeup the Bonn-based position on October 1 and also take over the Global Business Services (GBS), theGroup’s Shared Services such as IT, Procurement, Real Estate, or Legal Services.
DPWN pointed out that the British manager was a successful CEO of UK companies for elevenyears, is highly respected in the London financial community and is well known and recognized forsteering an organization close to capital markets’ expectations. Allan will assume theresponsibility for Deutsche Post World Net’s already planned new capital markets strategy, whichwill be presented to the market on November 8.
In a statement released by Deutsche Post, John Allan said that DPWN chairman Klaus Zumwinkel “ felt that an important priority was to restore confidence with capital markets for the group andasked me to take on the challenge of leading the finance function to do that and of course I wasdelighted to accept that challenge.” Allan said his immediate priority would be on the November 8presentation, which would include explanations of market demands: “more performance, more cashgeneration, more transparency in financial disclosure.”
Meanwhile, Frank Appel, widely seen as the likely successor to Zumwinkel whose contractexpires in December 2008, regains responsibility for DHL Logistics, which he ran prior to the Exelacquisition. He will remain in change of the cross-divisional Global Customer Solutions (GCS) unitas well as Mail International, Corporate Regulatory Management and the “First Choice” qualityimprovement programme.
Appel, who will thus be responsible for about 50% of DPWN’s revenues, stressed that he wouldcontinue John Allan’s strategy in the logistics business, while stronger organic growth in growthbusinesses would also be possible in the future.
