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LARSSON STEPS DOWN AS CEO OF SCHENKER

LARSSON STEPS DOWN AS CEO OF SCHENKER

   Hakan Larsson is stepping down as chief executive officer of Schenker AG, the freight forwarding arm of the Deutsche Bahn group.

   Schenker said that Larsson is withdrawing from his office for professional and private reasons.

   He will be replaced as CEO by Thomas Held, currently chief financial officer of Schenker. Marco Schr'ter, currently senior vice president, controlling, has been named as the new CFO.

   As of Jan. 1, Hans-J'rg Hager, CEO of Schenker Deutschland AG, will additionally be member of the board of management of Schenker, responsible for the land transport/logistics business area. This responsibility was previously held by Larsson.

   In a separate development, Schenker announced that Hans von Dewall will take over responsibility for corporate communications at Stinnes AG, the parent company of Schenker. For the past six years, von Dewall has been in charge of corporate communications and the management board office at Schenker.