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Lufthansa's Spohr gets another five years as CEO

March 02, 2023 at 05:36 am EST

BERLIN (Reuters) - Carsten Spohr is to remain CEO of Lufthansa for another five years after the supervisory board agreed to extend his contract, the German flagship airline said on Thursday.

The supervisory board also agreed to extend the contract of CFO Remco Steenbergen for another five years, through 2028, Lufthansa said in a statement.

"They will be particularly important in securing a successful future for the Lufthansa Group," Supervisory Board Chairman Karl-Ludwig Kley said.

Spohr, a 56-year-old engineer and pilot, has led the airline since 2014, guiding it through a collapse in demand triggered by the COVID-19 pandemic and a subsequent government bailout that saw the state take a 20% stake in the company.

The German government has since sold its stake, putting Lufthansa back in the hands of private investors.

Steenbergen has served as Lufthansa's CFO since the start of 2021.

(Reporting by Klaus Lauer, Writing by Rachel More, Editing by Friederike Heine)

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Carsten Spohr

Mr. Carsten Spohr is a Chairman-Executive Board & CEO at Deutsche Lufthansa AG, a Chairman-Governors Board at International Air Transport Association and a Chairman-Supervisory Board at Lufthansa Technik AG. He is on the Board of Directors at Münchener Rückversicherungs-Gesellschaft AG, Sandown Motor Holdings Pty Ltd. and SN Airholding SA. Mr. Spohr was previously employed as an Independent Member-Supervisory Board by ThyssenKrupp AG, a Chief Executive Officer by Lufthansa Cargo AG, a Chairman-Executive Board & Chief Executive Officer by Lufthansa German Airlines, a Member-Managing Board by Lufthansa Passage Airlines, a Chairman-Supervisory Board by Germanwings GmbH, a Chief Financial Officer & Executive Director by Mercedes-Benz South Africa Ltd., and a Chief Executive Officer by PrivatAir SA. He also served on the board at Dr. August Oetker KG. He received his undergraduate degree from the University of Karlsruhe.

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