Lufthansa Names Till Streichert CFO in Executive Board Reshuffle

By David Sachs

Deutsche Lufthansa named Till Streichert its chief financial officer as the airline reshuffles its executive team.

Streichert, currently CFO of Madrid-based Amadeus IT Group, will start in September. He will replace CFO Remco Steenbergen, who will leave the airline Tuesday, Lufthansa said.

The appointment is part of a restructuring that includes the turnover of four executive board members announced in February. In April, Lufthansa cut its earnings forecasts for the year after a wave of strikes wiped out hundreds of millions of euros. The company also warned that tensions in the Middle East posed further risks to guidance.

"Given the continuing challenges posed by the competitive environment worldwide, having a CFO like Till Streichert who is extensively experienced in the capital markets is of vital importance to the Lufthansa Group," said Karl-Ludwig Kley, chairman of Lufthansa's supervisory board.

Write to David Sachs at [e-mail]

(END) Dow Jones Newswires

05-06-24 1210ET