Christoph Franz, chairman and CEO of Lufthansa, revealed he will not be available to renew his contract when it expires May 31, 2014.
“After a total of nearly 15 years in the Lufthansa Group, this was not an easy decision for me to make,” Franz said. “I am proud of Lufthansa and its people, and it gives me great pleasure to work for this company. However, for professional reasons I have decided to call time on my activities for the Lufthansa Group once I have completed my contract in May 2014. By then, the SCORE program and important investment decisions will have laid the groundwork for the Lufthansa Group to continue its successful development. This is a suitable time for a management handover.”
Franz informed Wolfgang Mayrhuber, chairman of the supervisory board, of his decision.
“I regret Christoph Franz’s decision to develop his career in a different direction, but I respect his decision,” Mayrhuber said. “I trust that in the remaining months he will be able to bring his work for our company to a successful conclusion. Christoph Franz also has my personal best wishes for the period thereafter…I think I can speak for all the members of the supervisory board when I assure Christoph Franz today of our thanks and recognition for his great commitment. Under Franz’s leadership, Lufthansa Group has built on its position as a leading European aviation group. His forward-looking decisions form the basis for our company to continue its successful development.”