Change in the Management of Cologne/Bonn Airport
Today, Friedrich Merz, Chairman of the Supervisory Board of Flughafen Köln/Bonn GmbH, informed the Company's Supervisory Board about an upcoming change in the Management of Cologne Bonn Airport: Mr. Athanasios Titonis has been offered the position of Managing Director of a major airport in the Gulf region. He would like to accept this opportunity and has asked for a consensual termination of his current employment contract.
Mr Merz: "We all greatly appreciate Mr Titonis, and we are obliged to thank him for his many years of successful work, and in particular for his calm and reliable way of managing the Airport during the transition period in the first months of this year. He started a very cooperative working relationship with Mr. Johan Vanneste, the new Chairman of the Management Board, and we could all have imagined a longer cooperation in and with this Management Board. At the same time, it is an honour for us if one of our Managing Directors is offered such an opportunity. In order to safeguard our mutual interests, I have proposed to Mr Titonis, in coordination with the Supervisory Board, to terminate the contract with him by mutual consent effective October 31, 2018.
This ensures that Mr. Titonis will still be attending our strategy meeting at the beginning of October. At the same time, we will instantly start searching for a successor. At my request, Mr. Vanneste, for his part, developed concepts on the requirements profile for the future composition of our Management Board following the departure of Mr. Titonis. For the time being and until further notice, we want to continue with a Management Board consisting of two people and are looking for a candidate (m/f) who will be primarily responsible for finance, personnel and infrastructure.
After Mr. Titonis' leave, Mr. Vanneste will initially have sole responsibility for the overall Management of the Company and, after the appointment of the new Managing Director, will retain the areas of Operations, Legal Affairs, Customers and Non-Aviation. We will not determine the details of the Managing Director's responsibilities until the Managing Board has been completely reoccupied.”