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Oliver Seidl new Chief Financial Officer of Schenker AG

Supervisory Board appoints financial expert as top manager.

Oliver Seidl is set to join the Management Board of Schenker AG in Essen as the new Chief Financial Officer following his appointment by the Supervisory Board of Schenker AG at its meeting today. He will take up the post at the earliest possible availability. The 53-year-old is currently CFO of Media-Saturn-Holding in Ingolstadt.

Seidl brings many years of experience in diverse finance-related management positions and as a managing director and management board member, including in listed global corporations. From 2010 to 2013, he was Chairman of the Management Board at Loewe AG, having previously served as the management board member for finance and services. Prior to that, he looked after management accounting, strategy and M&A at medium-sized companies.

From 1990 to 2001, Seidl worked in various roles for Daimler AG in Bremen and Stuttgart, most recently heading Group management accounting for Mercedes-Benz Passenger Cars. After training in wholesale and export, Seidl studied at the universities of Göttingen and Marburg, graduating in business administration.

At Schenker AG, Seidl will be succeeding Dr. Lutz Freytag, CFO of many years. Dr. Freytag has chosen to leave the company on November 30, 2016 to tackle new challenges and dedicate more time to his personal pursuits. Dr. Freytag and his successor will ensure a smooth handover.

The Chairman of the Supervisory Board, Dr. Richard Lutz, is delighted by Oliver Seidl's appointment: "We are bringing a proven expert on board with relevant experience as the CFO of internationally active businesses.” CEO Jochen Thewes said: “He will further strengthen the Management Board team with his broad knowledge and personal qualities."

Thewes praised Seidl's predecessor Dr. Lutz Freytag, who has been highly influential in the development of Schenker AG over the last nine years as CFO: "He has achieved a great deal for Schenker AG. We would like to thank Lutz for the great personal dedication he has shown throughout his years at DB Schenker and wish him all the best for the future." The Chairman of the Supervisory Board also warmly thanked Dr. Freytag for his services to Schenker AG. From 2004 to 2008, Dr. Freytag worked within DB AG as Member of the Management Board for Finance/Controlling at Railion Deutschland AG in Mainz.