Wulf von Schimmelmann has resigned as Deutsche Post’s board member for financial services, andchairman of Deutsche Postbank, as of 30 June, the group announced yesterday.
“The executive committees of Postbank and Deutsche Post deeply regret this move,” DeutschePost commented in a statement.
“They would like to express their thanks for the outstanding entrepreneurial contributionmade by Schimmelmann in Postbank’s development as Germany’s leading retail bank and a successfulDAX company.”
The committee proposed that Wolfgang Klein replace him in both positions, to be confirmed bymeetings of the Deutsche Post Supervisory Board today and the Postbank Supervisory Board on Friday.
Klein is currently Postbank board member in the private customer segment, responsible forproducts and sales of mobiles.
Since von Schimmelmann took over at the helm in 1999, Postbank has grown to become thelargest retail bank in Germany with almost 15 million customers.
It has established a successful transaction banking arm, acquired DSL Bank and the BHW Groupand integrated 850 Deutsche Post branches. Since its IPO in 2004, the price of Postbank shares hasmore than doubled.
“The successful strategy of Postbank within Deutsche Post World Net will continue under thenew management,” Deutsche Post said.
