Deutsche Post will replace departing chief financial officer Edgar Ernst with
logistics-division head John Allan.
Ernst, 55, is leaving the company at the end of September to focus on a
career in academics, Bloomberg reports.
Deutsche Post has struggled this year as its German letter-carrying monopoly
expires and it struggles to generate a profit in the US.
Bear Stearns analyst Andrew Beh said the appointment of Allan was ‘a
significant change’ that could bring ‘sunnier prospects for the company’.
Allan, 59, was the chief executive officer of Bracknell, England-based
logistics provider Exel Plc until Deutsche Post bought the company in 2005.
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