Lufthansa Names Ulrik Svensson as New CFO
July 01 2016 - 2:10PM
Dow Jones News
FRANKFURT—Deutsche Lufthansa AG said Ulrik Svensson would be its
new Chief Financial Officer, taking over from Simone Menne, who is
stepping down in August amid efforts to put the airline on a surer
financial footing.
The airline said Mr. Svensson, currently Chief Executive Officer
of Swedish investment company Melker Schö rling AB, would take up
the role Jan. 1, 2017.
Mr. Svensson has also worked as Managing Director Finance and
CFO of Swiss International Air Lines and played an important role
in that company's turnaround and its acquisition by Lufthansa, the
German airline said.
Lufthansa is restructuring to cut costs and boost
competitiveness. It has been shedding market share in its
short-haul business to Ryanair Holdings PLC and easyJet PLC, while
also losing long-haul passengers to Middle East carriers such as
Emirates Airline and Qatar Airways.
Lufthansa announced in June that Ms. Menne would be leaving the
company and said Friday that CEO Carsten Spohr will act as
financial chief until Mr. Svensson comes on board in the new
year.
(END) Dow Jones Newswires
July 01, 2016 13:55 ET (17:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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