Hapag-Lloyd trims management

Hapag-Lloyd trims management

Hapag-Lloyd will eliminate up to 40 positions within three years and trim its executive board from three to two members.

   Hapag-Lloyd said the reorganization was linked to the sale of its non-shipping activities and the duplications of positions with its parent company, TUI AG. There will be no layoffs, the company said.

   Joachim Eilert, executive board member of Hapag-Lloyd in charge of the financial department, left the company April 30 “to assume new responsibilities at TUI,” Hapag-Lloyd said. He was appointed chief financial officer of Hapag-Lloyd in January 2002 and was previously head of group controlling at TUI.

   Hapag-Lloyd will reduce the management of Hapag-Lloyd Cruises, with the departure of Wolfgang Coym.

   The remaining board members of Hapag-Lloyd are Michael Behrendt, its chairman, and Adolf Adrion, the executive board member responsible for shipping. Behrendt will take on the additional responsibility for finance.