German airport operator Fraport AG said that its supervisory board has approved a five-year contract extension for the company´s executive board chairman Stefan Schulte.
Schulte´s current term as CEO, which expires in August 2014, will be extended until August 31, 2019.
Fraport supervisory board chairman Karlheinz Weimar said that the board´s early renewal ensures continuity at the helm of the firm.
Schulte has been serving as Fraport´s CEO since September 2009. In 2007, he became Fraport´s vice chairman of the executive board. From 2003 to 2007, he held the position of executive board member responsible for finance.
Before Fraport, Schulte was board member of Cologne-based Deutz AG, where he was responsible for finance and human resources.
Find out more at www.fraport.com.