Hanns R. Rech has resigned his post as Chairman of the Executive Board of LSG Lufthansa Service Holding AG with immediate effect and by mutual agreement with the Company. The Supervisory Board has asked Walter Gehl, Chief Financial Officer, to deputise as spokesman for the Executive Board until further notice.
The LSG Executive Board and the Supervisory Board will make the necessary adjustments to the organisational structure and reallocate responsibilities in the short term.
Hanns R. Rech gave as the reason for his resignation the fact that circumstances had altered vis-à-vis his original mission. “In view of the permanent change in the economic situation of the industry following the terrorist attacks of 11 September 2001, LSG`s intended stock market flotation is currently not realistic.”
The LSG Supervisory Board expressed understanding for this decision and thanked Hanns R. Rech for his commitment and dedication in extremely difficult times.
Deutsche Lufthansa AG