Frank Appel’s contract as chief executive at Deutsche Post doesn’t conclude until the end of 2016, but he’s already campaigning for an extension.
“I really enjoy the work and am interested in staying at my job longer,” he recently told a small group in Düsseldorf.
What’s remarkable about this statement is its timing. It came just days before Mr. Appel shocked shareholders with bad news and a profit warning for the world’s largest courier company.
The long overdue modernization of an outdated IT system in the freight division has failed disastrously while this year’s pre-tax profits of €2.4 billion ($3.0 billion) fell half a billion euros below projections.