Business
Schulte New Chairman of Fraport's Executive Board
Schulte New Chairman of Fraport's Executive Board.
About this update from Firering Strategic Minerals Plc
[{"type":"text","content":"\n \n\n\n\nFRANKFURT, Germany, March 20 /PRNewswire/ --\n\n - Supervisory Board Appoints Vice Chairman as CEO - Peter Schmitz New \nMember on Executive Board\n\n\n\n Fraport AG's supervisory board today appointed Dr. Stefan\nSchulte (age 48) to a five-year term as the company's new executive board\nchairman (CEO) effective September 1, 2009. Currently the company's executive\nboard vice chairman, Schulte will take over from Dr. Wilhelm Bender who will\nturn 65 in early August and reach retirement after more than 16 years at the\nhelm of the Fraport airport company. Karlheinz Weimar, the supervisory board\nchairman of Fraport and Hesse minister of finance, announced the appointment\nfollowing today's supervisory board meeting. Newly elected to the executive\nboard is Peter Schmitz (age 58), who currently is Fraport's senior executive\nvice president for ground services. The change of leadership also involves a\nredistribution of responsibilities among the executive board members.\n\n\n\n\"Confidence in the New Team\"\n\n Weimar declared that the supervisory board is confident the\nnew team is capable of steering the Fraport ship safely and successfully\nthrough bumpy waters during these times of great economic and financial\ncrisis, to ensure Frankfurt Airport's future viability and competitiveness by\nexpanding the airport quickly, and to provide positive prospects for the\neconomy of the region and the entire State of Hesse. With Schulte, the\nsupervisory board opted for an executive manager who is \"thoroughly prepared\nfor his new task, with great expertise, leadership skill, alertness and\ndiligence\". In both his positions as Fraport's executive board vice chairman\nresponsible for airport expansion and before that as CFO, Schulte has gained\nan impressive profile qualifying him as the successor of Bender. Thus his\nappointment was a \"logical step\", Weimar said. The change of leadership is\nalso a generational change.\n\n\n\n Weimar characterized the new executive board member Peter\nSchmitz as a \"recognized logistics expert\", who has served for many years as\nexecutive vice president for ground services, and who has \"proven his worth\nfor advancement to the executive board\". The supervisory board expects\nSchmitz as well as the entire executive board to produce a sustainable\nconcept for the future of Fraport's aviat...