Announcement: Dr. Alexander Hedderich and European DB Schenker Rail

Schenker Announcement

(Berlin, July 24, 2009) Dr. Alexander Hedderich will assume overall responsibility for the pan-European DB Schenker Rail Business Unit as of September 1, 2009. He will also be appointed to the Executive Board of Deutsche Bahn AG. He will assume both positions subject to the approval of the relevant bodies.

Dr. Klaus Kremper, longstanding Head of DB Schenker Rail and Member of the Executive Board of Deutsche Bahn AG, is to leave the company. The 47-year old, who holds degrees in mechanical engineering and industrial engineering, and a doctorate in economics, has requested that his employment contract be terminated. The DB Management Board has complied with the request. He will leave the company on August 31, 2009.

Since joining the company in 2000, Dr. Kremper has been responsible for Deutsche Bahn’s rail freight transportation business – initially in Germany, and subsequently at European level. The DB Schenker Rail Business Unit deals with DB’s rail freight transportation activities in ten European countries with a workforce of around 36,000 employees. In 2008, Europe’s largest rail freight carrier generated revenues of EUR 4.65 billion and an operating profit (EBIT) of EUR 307 million.

Dr. Alexander Hedderich, 43, who has a doctorate in economic science, is currently Head of Corporate Development at DB. Dr. Rüdiger Grube, CEO and Chairman of Deutsche Bahn AG: “Alexander Hedderich is an excellent man with considerable know-how and a recognized expert in the field of transportation. He knows more about the company than just about anybody else and enjoys my personal trust and the full confidence of the entire DB Board of Management. Dr. Hedderich will overcome the difficult challenges we are currently facing.”

“We would like to express our thanks to Dr. Kremper for his many years of dedication and for what he has done for rail freight transportation at DB. We wish him all the best for the future,” said Dr. Karl-Friedrich Rausch, Member of the Board of Management of DB Mobility Logistics AG responsible for Transportation and Logistics.