Supervisory Board decides on changes to Group Board of Management

At its meeting on 14 September 2007, the Supervisory Board of Deutsche Post AG decided on a number of changes to the Group Board of Management. John Allan became the Group’s CFO on 1 October 2007. He succeeds Prof. Dr Edgar Ernst, who retired from office at his own wish on 30 September 2007. Mr Allan’s previous position as head of the LOGISTICS Division has been taken over by Dr Frank Appel, who used to be in charge of the logistics business prior to the Exel acquisition. Details are provided in the Organisation section.

Deutsche Post and Deutsche Lufthansa launch cargo carrier

On 26 September 2007 Deutsche Post World Net and Deutsche Lufthansa AG launched a joint cargo carrier through their subsidiaries DHL Express and Lufthansa Cargo. The new business, in which the joint venture partners each hold a 50% stake, has been incorporated as a German private limited company (GmbH) and has its registered office in Leipzig. Its focus is on transporting airfreight and express shipments to and from Asia. Flight operations are scheduled to begin in April 2009.

Postbank sells insurance companies

The Deutsche Postbank Group has repositioned itself in the insurance business. As part of this, it dissolved the special funds of BHW Bausparkasse AG as at 31 August 2007. Furthermore, BHW Lebensversicherung AG, including its special funds, and the 50% interest in PB Versicherung AG and PB Lebensversicherung AG were sold to Talanx AG for €550 million effective 30 September 2007. At the same time Postbank and Talanx entered into a long-term agreement for co-operation in the areas of life and accident insurance.