Deutsche Post: Potential new role for Frank Appel

Frank Appel, the chief executive of German logistics company Deutsche Post, is the favourite to become the next supervisory board chairman of Deutsche Telekom, reports Reuters.

A preliminary decision could be made at a meeting of the supervisory board on Dec. 15, with Appel potentially proposed for election at the annual meeting on April 7, Handelsblatt reported, citing five people familiar with the matter.

The term of office of Telekom chairman Ulrich Lehner, who has headed the Telekom supervisory body since 2008, ends at next year’s shareholder meeting. He had already confirmed that an external search for a successor was under way.

The German government holds stakes in both companies.

His contract runs until 2022 and a decision on his future at the Post had been expected soon. Some industry insiders have speculated that Appel could be ready to move on given that Deutsche Post has posted record results through the pandemic.