Lufthansa Group (LH) said Monday it has reached a “mutual agreement” with CFO Stephan Gemkow under which he will leave the German airline company June 30. He will be replaced by British Midland International (bmi) CFO Simone Menne, who will become the first-ever female to become a member of LH’s executive board.
Gemkow will become CEO of the German investment firm Haniel Group after his departure, LH said. Menne’s contract will run for three years, it added. She has been with LH in various positions since 1989, including serving as VP-finance and accounting at Lufthansa Technik from 2004-2010. LH recently completed the sale of bmi to International Airlines Group.
LH executive board chairman Jürgen Weber said in a statement that Menne is an “experienced Lufthansa manager who is fully conversant with the Group and our industry. In the difficult economic and political conditions prevailing in the aviation industry, that is the best prerequisite for further successful stewardship of the important finance division.”
LH reported a disappointing first-quarter loss and said it would eliminate 3,500 administrative jobs worldwide.
Article Source : ATW Daily News
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