Ad hoc: New management structure for Thiel Logistik AG
Grevenmacher (Luxembourg)/Bad Homburg - The Board of Directors of Thiel Logistik AG has resolved on a new management structure for the corporate holding, whereby the Board of Directors - in accordance with Luxembourg company law and in keeping with the company statutes - has been reorganized to be the sole management body of the Group. The former Executive Board, which was not appointed as a corporate law requirement, has been dismantled.
The Board of Directors consists of the executive members Berndt-Michael Winter and Dr. Antonius Wagner (Chairman and Deputy Chairman respectively, both previously non-executive members), Stefan Delacher (previously a member of the Executive Board) Klaus Hrazdira (Chairman of Quehenberger Logistik AG & Co. KG, a Thiel Group company) as a future member, and, as before, the non-executive members Prof. Dr. Werner Delfmann and Dr. Yves Prussen. Klaus Hrazdira, who cannot be elected to the Board of Directors until the Annual Shareholders Meeting in April 2006, will be included with immediate effect in all the Board of Directors' consultation and decision-making processes.
An Executive Committee, formed by the executive members within the Board of Directors, is responsible for the operating functions. Berndt-Michael Winter is its Chairman, Dr. Antonius Wagner is responsible for the financial functions and Stefan Delacher is looking after the Industry Solutions and Air & Ocean segments. Klaus Hrazdira is responsible for the Regional Logistics Services segment.