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Deutsche Bahn CFO set to take over as CEO

Image © http://www.manager-magazin.de/images/image-980795-mmo_panoV9-zdcc-980795.jpg

German state-owned rail operator Deutsche Bahn [DBN.UL] is set to name finance chief Richard Lutz as its new chief executive, several supervisory board sources said on Monday.

The appointment of Lutz, who has been acting as CEO since the unexpected departure of Ruediger Grube in January, is due to be announced in the next week, the sources said.

The selection of a new CEO is a sensitive matter, with politicians from both major parties in Germany's rulingcoalition and internal candidates all seeking a say.

Siemens management board member Siegfried Russwurm and Andreas Meyer, CEO of Swiss Federal Railways (SBB AG), had been seen as candidates. [nL8N1G23VY]

The sources said Russwurm could be named head of the firm's engineering division, DB Systemtechnik, while Sigrid Nikutta, head of Berlin's public transit system, could be named head of the rail operator's troubled cargo division, which is facing 2,000 layoffs.

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