(Berlin, June 27, 2007) The Supervisory Board of Deutsche Bahn AG extended the contract for DB CEO and Chairman of the Management Board Hartmut Mehdorn for three years in a meeting held today. His contract is now scheduled to expire in May 2011. “The company has developed extremely successfully under Mehdorn’s leadership,” said Chairman of the Supervisory Board Dr. Werner Müller. “During the partial privatization phase, continuity in the top management is absolutely essential to the company’s development.” Müller went on to say that the decision of the Supervisory Board would keep Deutsche Bahn on the right track even after partial privatization. He also emphasized the importance of keeping to the schedule for the partial privatization: “We are happy that the legislative process is apparently making good progress.” Crucial questions have recently been answered satisfactorily, Müller pointed out, so a number of concerns have been allayed.
Deutsche Bahn continued its successful economic course during the first five months of this year, with both revenues and profits rising through May. “We are doing very well,” said Mehdorn. “We will certainly reach our goals for this year if we do not encounter any unusually negative circumstances. In this regard, I am concerned about the trade unions’ strike threats.”
The Supervisory Board also approved the sale of the ferry company Scandlines. Müller continued that it was highly important to both the Management Board and the Supervisory Board to ensure that the sale would be tied to a promise of job security for several years. The DB Management Board will report on acquisitions approved by the Supervisory Board in its meeting today during a press conference to be held in Frankfurt at noon tomorrow (Thursday).
The Supervisory Board thanked Roland Heinisch for his years of work for Deutsche Bahn in Germany. Heinisch, currently the member of the Board of Management responsible for the integrated rail system, will be leaving the Group Management Board when his contract expires at the end of August. His duties will be performed in the future by Dr. Lutz Bücken, who will report directly to the Chairman of the Management Board as a holder of general authorization to act for the company. Previously, the 51-year-old Bücken headed the Services business unit, where he also oversaw the unit’s successful restructuring. “Heinisch has rendered outstanding services to the rail industry in Germany, introducing many innovations without which today’s modern rail system in Germany would be unthinkable,” Mehdorn said.